Budget Calculator (50/30/20)
Split your monthly income into needs, wants and savings with the 50/30/20 rule.
Updated October 2026
This is an estimate for general information only and is not financial, tax or investment advice. Figures may differ from a lender or advisor.
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This budget calculator applies the popular 50/30/20 rule to your monthly take-home pay. Enter your after-tax income and it splits the total into three buckets so you can see roughly how much to spend on essentials, lifestyle, and your financial future.
The 50% needs bucket covers essentials you cannot easily skip: rent or mortgage, utilities, groceries, insurance, and minimum debt payments. The 30% wants bucket is for lifestyle spending like dining out, entertainment, hobbies, and subscriptions. The 20% savings bucket goes toward savings, investments, and paying down debt faster.
How to use it
- 1Enter your monthly after-tax income and pick your currency.
- 2Read the three suggested amounts for needs, wants, and savings.
- 3Compare the targets against what you actually spend each month.
- 4Adjust your spending to move closer to the 50/30/20 split.
Frequently asked questions
What is the 50/30/20 budgeting rule?+
It is a simple framework that divides your after-tax income into 50% for needs, 30% for wants, and 20% for savings and debt repayment. It gives you a quick starting point without tracking every single expense.
Should I use gross or net income?+
Use your net, after-tax income — the amount that actually lands in your account. The 50/30/20 rule is built around take-home pay, so using gross income would overstate how much you can spend.
What if my needs are more than 50%?+
In higher-cost areas, essentials often exceed half your income. Treat the split as a guide rather than a hard rule: trim the wants bucket where you can, and protect savings even if the exact percentages shift.
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