Plan your month with the popular 50/30/20 rule. Enter your monthly take-home income and your spending to see how it splits across needs, wants, and savings, and what is left over.
The 50/30/20 rule splits your take-home pay into three buckets: about 50% for needs (rent, groceries, utilities, transport), 30% for wants (dining out, entertainment, hobbies), and 20% for savings and debt payoff. The calculator divides each amount you enter by your income to show the actual percentage, compares it to the target, and shows any income you have not yet assigned to a bucket.
Needs are essentials you cannot easily skip: housing, basic food, utilities, insurance, and minimum debt payments. Wants are nice-to-haves like dining out, subscriptions, and travel.
Use take-home (net) pay after taxes and deductions. The 50/30/20 rule is built around the money that actually lands in your account.
In high-cost areas that is common. Aim to keep some savings, trim wants, and look for ways to lower fixed costs over time rather than abandoning savings entirely.
If your three buckets add up to less than your income, the leftover is unallocated. You can move it into savings, extra debt payments, or a specific goal.
No. The 50/30/20 rule is a simple starting framework. Zero-based budgeting and envelope systems are common alternatives that may fit your situation better.
Disclaimer: This tool provides an estimate for general informational purposes only and is not financial advice. The 50/30/20 split is a guideline, not a rule for every situation. Consult a licensed professional before making decisions.