50/30/20 budget calculator
Split your take-home pay into needs, wants and savings using the 50/30/20 rule.
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What reaches your bank account after tax and deductions.
- Needs (50%)
- Wants (30%)
- Savings and debt (20%)
You'll see the new budget for each category before anything changes.
How it works
The 50/30/20 rule is a simple starting point for a budget:
- 50% for needs: housing, utilities, groceries, insurance, transport and minimum debt payments.
- 30% for wants: eating out, entertainment, hobbies, subscriptions and travel.
- 20% for savings and debt: emergency fund, savings goals, retirement and paying off debt faster than the minimum.
If your needs take more than half your pay, as is common where housing is expensive, treat the split as a direction to move in rather than a rule you have failed. Amounts are rounded to the cent, and the savings share absorbs any rounding so the three parts add up exactly.
Example
Take-home pay of $4,000 a month gives $2,000 for needs, $1,200 for wants and $800 for savings and extra debt payments.
Track it for real
To Budget Simply is a free budgeting app: track income and expenses, set category budgets and watch your goals fill up.
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These results are estimates for planning, not financial advice.