Budget Calculator
Turn your monthly take-home pay into a simple budget with the 50/30/20 rule, then compare it with what you actually spend.
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About the Budget Calculator
The 50/30/20 rule splits your after-tax income into three parts: 50% for needs, 30% for wants and 20% for savings and debt repayment. This budget calculator applies the rule to your monthly take-home pay, lets you change the percentages, and compares them with your real spending so you can see where to adjust.
How to use it
- Enter your monthly take-home income after taxes.
- Keep the 50/30/20 split or change the percentages.
- Enter what you actually spend on needs and wants, then press Build my budget.
What counts as needs, wants and savings
| Category | Examples |
|---|---|
| Needs | Rent or mortgage, utilities, groceries, insurance, minimum debt payments, transportation |
| Wants | Dining out, streaming, travel, hobbies, upgrades |
| Savings and debt | Emergency fund, retirement, extra debt payments |
Budgeting tips
- Pay yourself first by automating savings on payday.
- In high-cost cities needs may exceed 50%. Adjust the split to fit.
- Review your budget every few months and after any income change.
- Build an emergency fund of three to six months of expenses.
Frequently asked questions
What is the 50/30/20 budget rule?
Spend 50% of take-home pay on needs, 30% on wants and put 20% toward savings and debt repayment.
Is the 50/30/20 rule realistic?
It is a starting point. If housing costs are high you may need 60% for needs, which means trimming wants or raising income.
Should I budget with gross or net income?
Use net (take-home) income, the money that actually lands in your account.
How much should I save each month?
Many experts suggest at least 15% to 20% of income, including retirement contributions and employer match.
How do I make a budget?
List income, track fixed and variable expenses, assign every dollar a job and review monthly.
Last reviewed: November 2026. Estimates only, not financial, tax or legal advice.