50/30/20 Rule Calculator
Plan your budget using the 50/30/20 budgeting rule
$
Needs
%
Wants
%
Savings
%
Total: 100%
Needs
50%$2,000
Essential expenses: housing, groceries, utilities, transportation, insurance, minimum debt payments
Wants
30%$1,200
Non-essential expenses: dining out, entertainment, hobbies, shopping, subscriptions
Savings & Debt
20%$800
Savings, investments, emergency fund, and extra debt payments beyond minimums
Monthly Income:
$4,000
Total Allocated:
$4,000
Remaining:
$0
About the 50/30/20 Rule
The 50/30/20 rule is a simple budgeting guideline that suggests allocating your after-tax income as follows:
- 50% for Needs: Essential expenses you must pay
- 30% for Wants: Non-essential discretionary spending
- 20% for Savings & Debt: Building financial security
Note: You can customize the percentages above to match your financial goals.
