50/30/20 Budget Calculator
The 50/30/20 rule is a simple starting point for a monthly budget: about half of your take-home pay for needs, 30% for wants and 20% for savings and extra debt payments. Enter your income to see the amounts — and change the split if your rent or debts make 50% unrealistic.
Change the split (default 50 / 30 / 20)
Savings get what is left: 20%.
Needs · 50%$1,000Rent, bills, groceries, transport, minimum debt payments
Wants · 30%$600.00Eating out, subscriptions, shopping, trips
Savings & debt · 20%$400.00Emergency fund, investing, extra debt payments
Per year you would save about $4,800.
How the calculator works
- Use your take-home pay: what reaches your account after tax and deductions.
- Needs are bills you must pay; wants are choices; savings include your emergency fund and paying off debt faster.
- If needs take more than half, start smaller — saving 10% consistently beats a perfect plan you abandon.
Read more on this topic
Frequently asked questions
Is 20% savings realistic?
Not for everyone. Treat it as a target and increase your savings rate as income grows or costs fall.
Where do debt payments go?
Minimum payments count as needs. Anything extra you pay to clear debt faster counts toward the 20%.
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