50/30/20 Budget Calculator
The 50/30/20 idea splits take-home pay into needs, wants and savings. This page shows the amount for each, and you can change the split to fit your own life.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
Needs are the bills you must pay, such as housing, food, transport, utilities and minimum debt payments. Wants are the optional spending. Savings and extra debt payments take what is left. Each share is a percent of take-home pay.
The split is a guide, not a rule. If needs take more than half, lower the wants share first, and see what is left for savings.
Worked example
On $4,000.00 a month, needs take $2,000.00, wants take $1,200.00, and $800.00 is left for savings.
Questions
What counts as a need?
Costs you must pay to live and work, like rent, basic groceries, utilities, insurance and required loan payments.
How do I save more?
Lower the needs or wants share, and the savings share rises by the same amount. The page updates the totals.
Should I use gross pay?
This works best with take-home pay, since that is the money the bills come out of.
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