50/30/20 budget calculator: split take-home pay into needs, wants, and savings—or customize percentages and see monthly and annual amounts.
How it works
The 50/30/20 rule splits after-tax income into needs (rent, groceries, minimum debt), wants (dining out, hobbies), and savings plus extra debt paydown. Example: $5,500 take-home → $2,750 needs, $1,650 wants, $1,100 savings ($13,200/year)—a 20% savings rate. High-cost cities often need 55/25/20 or 60/20/20; adjust the sliders until the total equals 100%.
Frequently asked questions
What counts as a "need" vs a "want"?
Needs are expenses you cannot skip without serious consequences: housing, utilities, insurance, groceries, transportation to work, and minimum debt payments. Wants are discretionary—streaming, vacations, upgraded phones. Gray areas (gym, car payment) get labeled by your values; consistency matters more than perfection.
Should percentages add to 100%?
Yes for a complete budget picture. If they sum to less than 100%, you have unallocated cash; more than 100% means the plan is impossible on that income. The calculator shows your effective savings rate based on the savings slice you enter.
Is 20% savings enough?
20% is a solid starting point for many earners—it includes retirement, emergency fund, and extra debt payments. FIRE-oriented budgets push 30–50%; if you are catching up on retirement or paying high-interest debt, temporarily raise the savings slice above 20%.