Budget Calculator (50/30/20 Rule)
Apply the popular 50/30/20 budgeting rule to your income. Customize your own percentages and see a complete monthly and annual breakdown.
Quick Answer
This budget calculator applies the 50/30/20 rule to your after-tax income. See exactly how much to allocate to needs, wants, and savings to build a budget that works.
How to Use This Calculator
Enter your after-tax monthly income, or your annual salary for auto-calculation. The 50/30/20 budgeting rule allocates 50% to needs, 30% to wants, and 20% to savings. Customize these percentages to match your situation. This monthly budget planner shows dollar amounts for each category, monthly and annual, with examples of what belongs in each.
How the 50/30/20 Budget Rule Works
Created by Senator Elizabeth Warren, the 50/30/20 rule is a simple budgeting framework dividing after-tax income into needs (50%), wants (30%), and savings (20%). Needs are essential expenses. Wants are discretionary spending improving quality of life. Savings includes debt repayment beyond minimums and retirement contributions. Use this budget calculator to implement the 50/30/20 rule and make intentional spending decisions. Adjust the percentages based on your circumstances.
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Create and manage your monthly budget with the 50/30/20 rule. Track income, expenses, and savings in one place.
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