50/30/20 Budget Calculator
Follow the popular 50/30/20 budgeting rule to balance your needs, wants, and savings. Create a sustainable budget that builds wealth while enjoying life.
Your Income
Your take-home pay
Budget Overview
Target: 50% ($2,000)
Target: 30% ($1,200)
Target: 20% ($800)
Total Income
$4,000
Total Allocated
$0
Remaining
$4,000
Savings Rate
20.0%
Needs (50.0%)
Essential expenses you can't avoid
Wants (30.0%)
Non-essential spending for enjoyment
Savings & Debt (20.0%)
Building wealth and paying down debt
Understanding the 50/30/20 Rule
50% Needs
Essential expenses like housing, utilities, groceries, transportation, insurance, and minimum debt payments. These are things you can't live without.
30% Wants
Discretionary spending on dining out, entertainment, hobbies, shopping, and subscriptions. This makes life enjoyable but isn't essential.
20% Savings
Emergency fund, retirement contributions, extra debt payments, and investments. This builds your financial security and wealth.