WealthCalc

50/30/20 budget calculator

Give your income a simple plan: cover everyday bills, leave room for enjoyment, and keep money for your future.

Income left after tax for the period you select. Include savings deducted from your pay if you also count them in the savings portion.

Use the same currency for every amount and a decimal point without thousands separators.

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Savings and extra debt payments

1,000.00

Currency units per month

Rule-of-thumb comparison
Needs — 50%2,500.00
Wants — 30%1,500.00
Savings / investing / extra debt — 20%1,000.00

These are starting amounts, not a requirement to spend every category in full. Adjust for your essential costs and goals.

* Not financial advice. Just for fun and information. Read the full Disclaimer, also linked in the footer, for more.

Savings and extra debt payments: 1,000.00. Currency units per month.

What the 50/30/20 budget helps with

This guideline divides take-home income into three broad jobs. Needs cover essentials such as housing, groceries, utilities and required debt payments. Wants cover optional spending such as meals out, hobbies and subscriptions. The final portion goes toward savings, investing or extra debt payments.

Choose monthly or annual income; the results use that same period. Include savings already deducted from pay if you count those savings in the 20% portion, so they are not overlooked. The calculator makes a plan; it does not track your spending or automatically move money.

Reading your result

With 5,000 a month after tax, the split gives 2,500 for needs, 1,500 for wants and 1,000 for savings and extra debt payments. If essentials cost more, the percentages may need adjusting. Wants are not a spending quota.

Use emergency fund to plan a cash buffer. Background: CFPB budgeting activity.

The maths behind the split

Needs = after-tax income × 50%; wants = income × 30%; savings and extra debt = income × 20%. Calculations retain precision; displayed amounts are rounded to two decimals, which can cause a small rounding difference.