Budget Calculator — 50/30/20 Rule
Split your monthly income into needs, wants, and savings using the popular 50/30/20 budgeting rule.
About This Calculator
Applies the widely-used 50/30/20 budgeting framework — 50% needs, 30% wants, 20% savings/debt repayment — to your monthly income for an instant spending plan.
About This Calculator
Applies the widely-used 50/30/20 budgeting framework — 50% needs, 30% wants, 20% savings/debt repayment — to your monthly income for an instant spending plan.
Frequently Asked Questions
What is the 50/30/20 rule?
A budgeting framework that splits after-tax income into three categories: 50% for needs (rent, groceries, bills), 30% for wants (entertainment, dining out), and 20% for savings and debt repayment.
What counts as a "need" vs a "want"?
Needs are essential expenses you cannot avoid: housing, utilities, groceries, minimum debt payments, transport to work. Wants are everything else that improves quality of life but isn't essential: dining out, streaming subscriptions, hobbies, vacations.
Is 50/30/20 the right split for everyone?
It is a starting guideline, not a strict rule. In high cost-of-living areas, needs may exceed 50%; if you are aggressively paying off debt or saving for a goal, you may want to shift more toward the 20% savings category. Adjust based on your own situation.
Is this budget calculator free to use?
Yes — it is completely free to use online, with no sign-up required.
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