Budget Calculator
Enter your take-home pay and your monthly costs. See your needs, wants and savings against the 50/30/20 rule, how much is left to budget, and a clear donut chart of where the money goes.
Needs
–Wants
–Savings & debt
–The 50/30/20 rule is a guideline: about 50% of take-home pay for needs, 30% for wants and 20% for savings and extra debt payments. Your budget is saved in this browser only. Estimates only, not financial advice.
How to use the Budget Calculator
- Enter your take-home income and choose how often you are paid. It is converted to a monthly figure.
- Fill in your monthly costs under Needs, Wants and Savings & debt. Rename lines or use + New line for your own categories.
- Press Plan budget to compare each group with the 50/30/20 targets and see what is left over.
- Read the advice under each group and adjust amounts until the budget balances.
- Print or export your budget with Print budget or Export CSV. It is also saved in your browser for next time.
How the 50/30/20 budget works
Start with your monthly take-home income, then split it into three targets:
needs = income × 50% · wants = income × 30% · savings & debt = income × 20%
Example: take-home pay of $4,000 a month gives targets of $2,000 for needs, $1,200 for wants and $800 for savings. If your rent, utilities, groceries, transport, insurance and minimum loan payments add up to $2,330, needs take 2,330 ÷ 4,000 = 58.3%, so you are $330 over the guideline and would aim to balance that by spending less on wants.
50/30/20 targets at different incomes
| Monthly take-home | Needs (50%) | Wants (30%) | Savings & debt (20%) |
|---|---|---|---|
| $2,000 | $1,000 | $600 | $400 |
| $3,000 | $1,500 | $900 | $600 |
| $4,000 | $2,000 | $1,200 | $800 |
| $5,000 | $2,500 | $1,500 | $1,000 |
| $6,500 | $3,250 | $1,950 | $1,300 |
| $8,000 | $4,000 | $2,400 | $1,600 |
Converting your pay to a monthly figure
| You are paid | Monthly income | Example |
|---|---|---|
| Weekly | pay × 52 ÷ 12 | $900 a week = $3,900 a month |
| Every 2 weeks | pay × 26 ÷ 12 | $1,800 biweekly = $3,900 a month |
| Twice a month | pay × 2 | $1,950 twice monthly = $3,900 a month |
| Annually | pay ÷ 12 | $46,800 a year = $3,900 a month |
Biweekly earners get 26 paychecks a year, so two months each year have a third paycheck. Budgeting on the monthly average above, rather than on two paychecks, keeps those extra checks for savings or bills.
Tips for a budget that sticks
Build an emergency fund of three to six months of essential costs before investing heavily, and include irregular costs such as car repairs, gifts and annual subscriptions as monthly amounts. Pay yourself first by setting up an automatic transfer to savings on payday. Review the budget each month against what you actually spent; most people underestimate groceries and dining out at first. If you have high-interest debt, the extra payments in the savings group often give the best guaranteed return.
Frequently asked questions
What is the 50/30/20 budget rule?
It is a simple guideline that splits your after-tax income into three parts: about 50% for needs such as housing, utilities, groceries and minimum debt payments, 30% for wants such as dining out and entertainment, and 20% for savings and extra debt repayment.
Should I use gross or take-home income?
Use take-home pay, the amount that actually lands in your bank account after tax and other deductions. The 50/30/20 percentages are based on after-tax income.
How do I convert biweekly pay to monthly?
Multiply the biweekly amount by 26 pay periods and divide by 12 months. For example, $1,800 every two weeks is 1,800 × 26 ÷ 12 = $3,900 a month. Weekly pay uses 52 instead of 26.
What counts as a need versus a want?
Needs are costs you must pay to live and work: rent or mortgage, utilities, basic groceries, transport to work, insurance and minimum loan payments. Wants are things you could cut without serious harm, such as restaurants, streaming services, hobbies and travel.
What if my needs are more than 50%?
That is common in high-cost cities. Try to keep the total balanced by spending less on wants, and look at the biggest fixed costs, such as housing, car payments and insurance, when contracts renew. The rule is a starting point, not a strict law.
Is my budget data stored anywhere?
Only in your own browser's local storage so it is there when you come back. Nothing is uploaded to a server. Use Export CSV to keep a copy elsewhere.