Budget Calculator (50/30/20)
Apply the 50/30/20 budgeting rule to your income. See how much to spend on needs, wants, and savings.
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Customize Your Split
50%
0%100%
30%
0%100%
20%
0%100%
Needs (50%)
$2,500
Rent, groceries, utilities, insurance
Wants (30%)
$1,500
Dining out, entertainment, hobbies
Savings (20%)
$1,000
Emergency fund, retirement, investments
Budget Breakdown
Frequently Asked Questions
What is the 50/30/20 budget rule?
The 50/30/20 rule divides your after-tax income into three categories: 50% for needs (rent, food, utilities), 30% for wants (entertainment, dining out), and 20% for savings and debt repayment.
Is the 50/30/20 rule realistic?
It depends on your location and income. In high-cost cities, housing alone might exceed 50%. Adjust the percentages to fit your situation — the key is having a structured plan for your money.
How do I categorize my expenses?
Needs are essential expenses you can't avoid (housing, groceries, insurance, minimum debt payments). Wants are non-essential spending (streaming, dining out, hobbies). Savings include retirement contributions, emergency fund, and extra debt payments.
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