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Free tool · Budget

50/30/20 budget calculator

Turn monthly income into needs, wants, and savings targets using the classic 50/30/20 rule.

Runs in your browser · no account required · amounts use any currency unit

Net pay after tax

50 / 30 / 20 split

Needs (50%)2,500
Wants (30%)1,500
Savings (20%)1,000

In short

What is this?

The 50/30/20 rule splits take-home pay into roughly 50% needs, 30% wants, and 20% savings or debt payoff. This calculator multiplies your monthly income by those shares so you get three spending ceilings you can map to real categories.

What counts as needs, wants, and savings

  • Needs: rent or mortgage, utilities, groceries, minimum debt payments, insurance, transport to work.
  • Wants: dining out, streaming, hobbies, upgrades you could cut without losing housing or health.
  • Savings: emergency fund, investments, extra debt principal beyond the minimum.

When 50/30/20 does not fit

High rent cities, low income, or aggressive debt payoff often break the ratios. Treat the numbers as a starting ceiling, then adjust with a monthly category plan that matches your real bills.

FAQ

Is 50/30/20 after tax?
Use take-home (net) monthly income — what actually hits your account after tax and mandatory deductions.
Should debt payments go under needs or savings?
Minimum required payments usually sit with needs. Extra principal payments count toward the savings/debt-payoff share.

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