50/30/20 Budget Calculator
Split your monthly take home pay into needs, wants and savings with the 50/30/20 rule, and compare it with what you actually spend.
Runs on your device
Result
Results appear here as you type.
What it does
The 50/30/20 rule, popularised by Senator Elizabeth Warren, puts 50% of after tax income towards needs, 30% towards wants and 20% towards savings and debt repayment.
How to use it
- Enter monthly take home pay.
- Optionally enter what you spend on needs and wants now.
- Compare against the targets.
Example
The example fills in realistic values and runs the tool. Select Try an example above to see it.
When it helps
- First budget after starting work.
- Checking if rent is too high.
- Setting a savings target.
Questions
What counts as a need?
Housing, utilities, groceries, insurance, transport to work and minimum debt payments.
My rent alone is over 50%. What now?
That is common in expensive cities. Treat the rule as a guide and adjust the split.
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