50/30/20 Budget Calculator
Enter your monthly income after taxes into this free budget calculator to create a budget that accounts for your needs, wants and savings goals.
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Use the budget calculator to see how to divide your take-home pay with the 50/30/20 rule.
Just enter your net income (the money you get after taxes and deductions) to see how your budget breaks down.
What is the 50/30/20 rule?
The 50/30/20 rule is a simple way to plan your budget. It suggests using 50% of your take-home pay for needs, 30% for wants, and 20% for savings and paying off debt.
Think of it as a helpful guide, not something you have to follow perfectly. It can help you cover the basics, enjoy some fun spending, and still put money aside for saving and future goals.
Here’s how each category works and what might fit into each one:
The percentages in the 50/30/20 budget can be changed to fit your financial needs at a given moment. If saving or paying down debt is a priority, for example, it’s OK to shrink your wants bucket and increase the savings and debt bucket.
If the 50/30/20 rule doesn’t work for you, there are other budgeting systems you can explore.
Dive deeper with your monthly budget
For more budgeting advice, including how to prioritize your savings and debt repayment, review our tips for how to budget.
Not sure how to start budgeting? A pen and paper is a free and low stakes way to list your expenses. If you want something more automated, download a budget app.
Stress less. Track more.
See the full picture: savings, debt, investments and more. Smarter money moves start in our app.
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