50/30/20 Budget Calculator
Enter your take-home pay to instantly see a simple, balanced monthly budget.
Monthly income
$0
Needs (50%)
$0
Wants (30%)
$0
Savings & debt (20%)
$0
Saving 20% would add up to $0 a year.
How the 50/30/20 rule works
The 50/30/20 rule is a simple way to divide your after-tax income into three buckets:
- 50% Needs: essentials you must pay, such as housing, utilities, groceries, insurance, transportation and minimum debt payments.
- 30% Wants: things that make life enjoyable but aren't essential: dining out, entertainment, travel, hobbies and subscriptions.
- 20% Savings and debt payoff: emergency fund, retirement and investing, plus any payments above the minimum on debt.
What if the numbers don't fit?
In high-cost cities, needs can easily exceed 50%. That's okay. Treat the rule as a starting point. You might use 60/20/20 or 70/20/10 for a while, then work toward a healthier balance by lowering fixed costs or increasing income.
For a deeper walkthrough, read our guide on how to make a budget that actually works.
This calculator provides estimates for educational purposes only and isn't financial advice.