Try out our 50/30/20 budget calculator to see if it’s the right budget method for you. The calculator tells you how much you should be spending on needs, wants and savings, based on your net income.
50/30/20 Budget Calculator
Enter the total monthly income you receive after taxes have been taken out. If you have any automatic deductions for retirement contributions, health insurance, or any other automatic savings, be sure to include them in this total.
Monthly After-Tax Income
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Enter your net income after deductions and taxes.
The percentages always sum to 100%. Drag any slider; the others adjust automatically.
Necessities Wants Savings & Debt
What is the 50/30/20 budget rule?
The 50/30/20 budget method is one of the most popular and straightforward options out there, offering a guide on how to sort your expenses and dictate how much you should be spending and saving. Most people calculate the method using monthly income and expenses, sorted this way:
- 50% for essential living expenses, such as rent, mortgage, utilities, internet, phone bill, groceries and transportation costs.
- 30% for wants, or non-essential costs, such as dining out, entertainment, monthly subscriptions and vacations.
- 20% for savings and debt repayments, such as credit card debt, retirement savings and emergency fund contributions.
