50/30/20 Budget Calculator
The 50/30/20 rule is a simple starting framework for budgeting: 50% of take-home pay to needs, 30% to wants, and 20% to savings or debt repayment. Enter your income below — and adjust the percentages if a different split fits your life better.
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How It Works
The framework simply multiplies your monthly take-home (after-tax) income by each category's percentage. "Needs" covers non-negotiables like housing, groceries, utilities, and minimum debt payments. "Wants" covers discretionary spending like dining out, entertainment, and subscriptions. "Savings/Debt" covers building an emergency fund, investing, or paying down debt beyond the minimum.
Worked Example
On a $4,000 monthly take-home income, the default 50/30/20 split allocates $2,000 to needs (rent, groceries, utilities, minimum debt payments), $1,200 to wants (dining out, streaming, hobbies), and $800 to savings or extra debt payments. If your rent alone eats 40% of your income, a common adjustment is shifting to something like 60/20/20 — the calculator's percentage fields are fully editable, so you can model whatever split actually reflects your fixed costs rather than forcing your budget to fit a rule that doesn't match your city's cost of living.