50/30/20 Budget Calculator

Break down your income into needs, wants, and savings.

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$
50%
Housing, groceries, utilities, insurance, minimum payments
30%
Dining out, entertainment, hobbies, subscriptions, travel
20%
Emergency fund, investments, extra debt payments, retirement
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Frequently Asked Questions

What is the 50/30/20 budget rule? +
The 50/30/20 rule allocates 50% of after-tax income to needs (rent, groceries, insurance), 30% to wants (dining out, entertainment, hobbies), and 20% to savings and debt repayment. It was popularized by Senator Elizabeth Warren in her book "All Your Worth."
Should I use gross or net income? +
Use your net (after-tax) income, which is your actual take-home pay. This is the amount deposited into your bank account after taxes, insurance premiums, and retirement contributions are deducted.
What counts as a need vs. a want? +
Needs are expenses you cannot avoid: housing, utilities, groceries, minimum debt payments, basic transportation, and insurance. Wants are everything else that improves quality of life but is not essential: streaming services, gym memberships, restaurant meals, vacations.
Can I customize the percentages? +
Yes. While 50/30/20 is a starting point, you can adjust the sliders to match your situation. People in high-cost areas may need 60% for needs, while aggressive savers might push savings to 30-40%.
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