Budget Calculator
Split your monthly take-home pay into needs, wants, and savings using the popular 50/30/20 rule, or set your own percentages.
Income and split
Needs (housing, food, bills):
Wants (dining, entertainment):
Savings / debt payoff:
Monthly total:
What counts as needs, wants, and savings
Needs are essential, hard-to-avoid costs: housing, utilities, groceries, insurance, minimum debt payments, and transportation to work. Wants are discretionary spending: dining out, entertainment, hobbies, and non-essential shopping. Savings/debt covers building an emergency fund, retirement contributions, and paying down debt beyond the minimum.
Frequently asked questions
What if my needs already exceed 50% of my income? This is common in high cost-of-living areas — it doesn't mean the budget is impossible, but it usually means less room for "wants" and a need to prioritize savings differently, such as the 60/20/20 preset.
Should extra debt payments count as "wants" or "savings"? Treat extra (above-minimum) debt payments as part of the savings/debt category — they build financial position just like saving cash, even though they reduce a balance rather than grow one.
Is the 50/30/20 rule one-size-fits-all? No — it's a starting point popularized as a simple budgeting guideline. Your ideal split depends on your income level, cost of living, debt situation, and financial goals.