Budget calculator
Split your take-home pay into needs, wants and savings with the 50/30/20 rule, and see how your spending compares.
Your 50/30/20 budget
- 50% needs
- 30% wants
- 20% savings and debt payments
You spend :
You spend :
You spend :
Estimates only, for illustration.
How this calculator works
Enter your monthly take-home pay. The calculator splits it into:
- 50% for needs: rent or mortgage, utilities, groceries, insurance, transportation and minimum debt payments.
- 30% for wants: eating out, entertainment, hobbies, subscriptions and travel.
- 20% for savings and debt: an emergency fund, retirement and extra debt payments.
If you enter what you spend now in each group, it shows where you're over or under.
Making it work
- Look at the last two or three months of bank and card statements to see what you really spend.
- Pay yourself first. Move your savings amount on payday, then spend from what's left.
- Adjust the split to your situation. If you're paying off high-interest debt, you might put more toward the 20%.
Still building a cushion? The emergency fund calculator shows how much to aim for.
Common questions
It's a simple way to budget your take-home pay. About 50% goes to needs like housing, utilities, groceries and minimum debt payments, 30% to wants, and 20% to savings and paying off debt faster.
That's common, especially where housing is expensive. Treat the split as a guide, not a rule. Cut back on wants first, look for ways to lower big bills, and try to save something every month, even if it's less than 20%.
Use your take-home pay, the amount that reaches your bank account after taxes and deductions. If you save for retirement through your paycheck, you can count that toward the 20%.