Your monthly budget
Enter your take-home (after-tax) monthly income.
How the 50/30/20 budget works
The 50/30/20 rule divides your after-tax income into three parts. Multiply your monthly take-home pay by 0.50 for needs (housing, utilities, groceries, insurance, transportation), by 0.30 for wants (dining out, streaming, hobbies), and by 0.20 for savings and debt paydown (emergency fund, retirement, extra loan payments). It is a flexible starting framework you can adjust to fit your situation.
Frequently asked questions
What is the 50/30/20 budget rule?
It splits after-tax income into 50% for needs, 30% for wants, and 20% for savings and debt payments, keeping spending balanced.
What counts as a need versus a want?
Needs are essentials like housing, utilities, groceries, insurance, and transportation. Wants are non-essential, such as dining out, streaming, and hobbies.
Should I use gross or net income?
The rule uses take-home (net) income, after taxes and deductions. Enter your monthly net pay for accurate targets.
What goes in the 20% savings bucket?
Savings and debt paydown beyond minimums: retirement, an emergency fund, investments, and extra payments on cards or loans.
Is my income data saved anywhere?
No. All calculations run entirely in your browser. Nothing you enter is uploaded or stored on a server.
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Disclaimer: Results are estimates for general informational purposes only and are not financial advice. Adjust the percentages to fit your own situation.