Emergency Fund Calculator
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Finance
50/30/20 Budget Calculator
Split your take-home pay into needs, wants and savings.
Needs (50%)
—
Rent, food, utilities.
| Wants (30%) | — |
|---|---|
| Savings & debt (20%) | — |
| Income | — |
| — |
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Enter your figures above to see the step-by-step working.
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How the 50/30/20 Budget Calculator Works
The 50/30/20 rule is a simple way to split your take-home pay: 50% to needs, 30% to wants, and 20% to savings and debt payoff. Needs are the essentials you can’t skip — housing, groceries, utilities, insurance, minimum debt payments. Wants are the nice-to-haves like dining out, subscriptions and travel. The last 20% builds savings and pays down debt beyond the minimums. On $5,000 a month that’s $2,500, $1,500 and $1,000.
It’s a starting framework, not a rule of physics. In high-cost areas, needs often exceed 50%; when that happens, trim wants rather than savings. Use your take-home (after-tax) pay, since that’s what you actually budget.
needs = 50% · wants = 30% · savings = 20% of take-home pay
Frequently Asked Questions
What is the 50/30/20 budget rule?
Split take-home pay into 50% needs, 30% wants and 20% savings and debt payoff. It’s a simple, flexible starting budget.
Should I use gross or net income?
Net (take-home) income — the amount that lands in your account after taxes and deductions is what you actually budget.
What if my needs are more than 50%?
Common in expensive cities. Cover the needs, then take the extra from the wants category before cutting savings.
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