Enter your monthly income to see budget results
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A popular budgeting framework: 50% for needs (housing, utilities, groceries), 30% for wants (entertainment, dining), 20% for savings and debt repayment.
Needs = Income × 0.50 | Wants = Income × 0.30 | Savings = Income × 0.20Every dollar of income is assigned a purpose. Total allocated expenses plus savings must equal total income.
Income = Sum of All Category AllocationsThe Budget Calculator applies industry-standard financial equations used by lenders, accountants, and planners. All intermediate values are computed with floating-point precision and rounded only for display.
Result = f(principal, rate, period, …)Updated: July 2026
Applying the 50/30/20 rule to a take-home pay of $5,500 per month.
→ Needs: $2,750, Wants: $1,650, Savings: $1,100
A renter in an expensive city adjusts the rule to allocate more to housing and savings.
→ Needs: $2,880, Wants: $1,800, Savings: $2,520
A homebuyer runs the Budget Calculator with two interest rates side by side to compare total interest paid over 30 years before choosing a lender.
Budget from take-home pay after taxes and deductions. A $75K salary may net $55K — budgeting on $75K leads to overspending by ~$1,600/month.
The rule is a starting point. High housing costs in major cities may require 40% for needs. Adjust percentages to your situation while keeping savings at 15–20% minimum.
Use our free Budget Calculator for fast, accurate results in your browser. No signup or installation required — works on any device.