Free Budget Calculator (50/30/20 Rule)
Split your take-home income into needs, wants, and savings — starting from the 50/30/20 rule, with percentages you can adjust.
A general guideline, not financial advice.
Frequently Asked Questions
What is the 50/30/20 rule?
It's a simple budgeting guideline: spend about 50% of take-home income on needs, 30% on wants, and 20% on savings or debt payoff. It's a starting point, not a strict formula.
What counts as a "need" vs. a "want"?
Needs are essentials you can't easily avoid — housing, utilities, groceries, minimum debt payments, transportation to work. Wants are everything discretionary — dining out, entertainment, subscriptions, upgrades beyond the essentials.
Can I adjust the percentages?
Yes — the 50/30/20 split is just a common default. Adjust the three percentages to fit your situation; the calculator will show the dollar amount for each category.
Is this rule right for everyone?
Not necessarily — it works best as a general guideline. High cost-of-living areas, irregular income, or significant debt may call for a different split. Use it as a starting point and adjust to your reality.
Is this financial advice?
No — this is a general budgeting guideline for planning purposes only, not financial advice.