Calculate Your 50/30/20 Budget
The 50/30/20 budget rule divides your after-tax income into three categories: 50% for needs (essential expenses), 30% for wants (discretionary spending), and 20% for savings and debt repayment. Enter your monthly income and current spending to see how your budget compares to the recommended split.
Monthly Income
$
Current Spending - Needs (50%)
Essential expenses: housing, utilities, food, transportation, insurance, minimum debt payments
Need 1
$
Need 2
$
Need 3
$
Need 4
$
Need 5
$
Need 6
$
Current Spending - Wants (30%)
Discretionary spending: dining out, entertainment, shopping, hobbies
Want 1
$
Want 2
$
Want 3
$
Want 4
$
Current Spending - Savings & Debt (20%)
Savings, investments, and extra debt payments
Savings Item 1
$
Savings Item 2
$
Recommended 50/30/20 Budget
Recommended Needs
$2,500
50% of income
Recommended Wants
$1,500
30% of income
Recommended Savings
$1,000
20% of income
50-30-20 Budget Report
February 10, 2026
| NEEDS (50%) | ||
|---|---|---|
| Category | Amount | % of Income |
| Rent/Mortgage | $1,500 | 50.0% |
| Utilities | $200 | 6.7% |
| Groceries | $500 | 16.7% |
| Transportation | $300 | 10.0% |
| Insurance | $200 | 6.7% |
| Minimum Debt Payments | $300 | 10.0% |
| TOTAL NEEDS | $3,000 | 100.0% |
| WANTS (30%) | ||
|---|---|---|
| Category | Amount | % of Income |
| Dining Out | $300 | 10.0% |
| Entertainment | $200 | 6.7% |
| Shopping | $200 | 6.7% |
| Other Wants | $100 | 3.3% |
| TOTAL WANTS | $800 | 26.7% |
| SAVINGS & DEBT (20%) | ||
|---|---|---|
| Category | Amount | % of Income |
| Savings | $500 | 16.7% |
| Extra Debt Payments | $200 | 6.7% |
| TOTAL SAVINGS | $700 | 23.3% |
| BUDGET SUMMARY | ||
|---|---|---|
| Category | Amount | % of Income |
| Monthly Income | $5,000 | 100% |
| Needs (Current) | $3,000 | 60.0% |
| Wants (Current) | $800 | 16.0% |
| Savings (Current) | $700 | 14.0% |
| Total Spending | $4,500 | 90.0% |
| Remaining | $500 | 10.0% |
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Current vs. Recommended
Needs
Current: $3,000 (60.0%)
Recommended: $2,500 (50%)
+$500
Wants
Current: $800 (16.0%)
Recommended: $1,500 (30%)
-$700
Savings
Current: $700 (14.0%)
Recommended: $1,000 (20%)
-$300
