FINANCIAL · BUDGET CALCULATOR (50/30/20)

Budget Calculator (50/30/20)

Allocate your monthly or annual income using the 50/30/20 budgeting rule — 50% needs, 30% wants, 20% savings and debt — or set a custom split.

Income
Budget Split
02 Result
50 / 30 / 20 Budget
$5,000.00
per month
Needs (50%)$2,500.00
Wants (30%)$1,500.00
Savings & Debt (20%)$1,000.00
Monthly income$5,000.00

About This Calculator

Apply the popular 50/30/20 budgeting rule to your income in seconds. Enter your take-home pay and instantly see how much to allocate to needs, wants, and savings — or set your own custom split.

How It Works

Enter your monthly take-home (after-tax) income or your annual salary. The 50/30/20 preset divides it into 50% for needs (rent, utilities, groceries, insurance, minimum debt payments), 30% for wants (dining out, subscriptions, entertainment), and 20% for savings and extra debt payments. Switch to Custom Split to enter your own percentages — they must total 100%.

The Formula

Needs = income × 50% Wants = income × 30% Savings = income × 20%

income
Monthly take-home pay (after taxes and deductions)
Needs
Essential expenses: housing, utilities, groceries, insurance, minimum payments
Wants
Discretionary spending: dining, entertainment, subscriptions, hobbies
Savings
Savings, investments, and extra debt payments

Frequently Asked Questions

What counts as a "need" vs a "want"?
Needs are expenses required for basic living — rent or mortgage payment, utilities, groceries, transportation to work, insurance, and minimum debt payments. Wants are things that improve your life but aren't essential — restaurant meals, streaming services, hobbies, and upgrades. The line is sometimes fuzzy; categorize according to what you could give up in a genuine financial emergency.
Should I use gross or take-home pay?
Use take-home (after-tax) pay. Tax withholding, health insurance premiums, and 401(k) contributions are deducted before you receive your paycheck — budgeting from gross income overstates what you actually have to spend.
What if 50% isn't enough for my needs?
In high cost-of-living areas, housing alone may exceed 50% of take-home pay. In that case, use the Custom Split mode to reflect your real situation — the important thing is to track and plan, not to fit a generic rule. Some planners use 60/20/20 or 70/15/15 when housing costs are high.
Does savings include a 401(k) or employer match?
Pre-tax 401(k) contributions are deducted before your take-home pay, so they don't appear in this calculator. If you want to include them, add them to your savings total manually or use gross income and count the contribution as part of the savings bucket.