A simple budget in seconds
The 50/30/20 rule is one of the easiest ways to budget: put 50% of your take-home pay toward needs, 30% toward wants, and 20% toward savings and debt payoff. Enter your monthly income and this calculator shows exactly how many dollars go to each bucket.
Not a fan of the classic split? Adjust the percentages to match your own plan.
What goes in each bucket
- Needs (50%): rent or mortgage, groceries, utilities, insurance, minimum debt payments, transport.
- Wants (30%): dining out, streaming, hobbies, travel, shopping.
- Savings (20%): emergency fund, retirement, investments, and extra debt payoff.
Tips to make it work
- Use your after-tax (take-home) income, not gross.
- If your needs exceed 50%, trim wants first, then look for ways to lower fixed costs.
- Automate the savings portion so it happens before you can spend it.