Budget Calculator
Build your personal budget using the 50/30/20 rule. Edit every line item, see your live breakdown chart, and find out exactly where your money is going.
Essentials you can't live without (target: 50% = $2,500)
- Needs
- Wants
- Savings
- Unallocated
Consider moving this to savings or debt repayment.
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Frequently Asked Questions
What is the 50/30/20 rule?
The 50/30/20 rule is a simple budgeting framework: 50% of after-tax income goes to needs (housing, food, utilities), 30% to wants (dining out, entertainment, subscriptions), and 20% to savings and debt repayment.
Is the 50/30/20 rule right for everyone?
Not necessarily. If you live in a high cost-of-living city, your needs may consume more than 50%. The rule is a starting point — adjust the percentages to fit your situation.
What counts as a 'need' vs. a 'want'?
Needs are essentials you can't reasonably live without: rent/mortgage, groceries, utilities, minimum debt payments, and basic transportation. Wants are upgrades or non-essentials: streaming services, gym memberships, dining out, and vacations.
How much should I save each month?
The 50/30/20 rule suggests 20% of take-home pay. If that's not achievable right away, start with whatever you can — even 5% — and increase it by 1% each month.
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