Budget Planner Calculator

Create your perfect monthly budget using the 50/30/20 rule. Track income, expenses, and savings goals in one place.

The 50/30/20 Budget Rule

The 50/30/20 rule is a simple and effective budgeting method that divides your after-tax income into three categories:

50% - Needs

Essential expenses: housing, utilities, groceries, transportation, insurance, minimum debt payments.

30% - Wants

Lifestyle choices: dining out, entertainment, shopping, hobbies, vacations, subscriptions.

20% - Savings & Debt

Future planning: emergency fund, retirement, investments, extra debt payments, goals.

How to Create Your Budget

Follow these steps to create a budget that works for you:

1. Calculate Your Monthly Income

Include all sources of after-tax income: salary, freelance work, side hustles, and passive income.

2. Track Your Expenses

Categorize every expense for one month to understand your spending patterns.

3. Set Realistic Goals

Adjust categories to fit the 50/30/20 framework while working toward your financial goals.

Budgeting Tips for Success

📱 Use Budgeting Apps

Track expenses automatically and get spending insights to stay on budget.

📅 Review Monthly

Adjust your budget each month based on actual spending and changing priorities.

🎯 Set Specific Goals

Create clear financial targets like "Save $5,000 emergency fund in 6 months."

📊

Budget Planner Calculator

Create your monthly budget with 50/30/20 rule

Monthly Income

Enter your total monthly after-tax income

Needs - 50%

Essential expenses: housing, utilities, groceries, transportation

$2,500.00

Category

Amount

Category

Amount

+ Add Need

Wants - 30%

Lifestyle expenses: dining, entertainment, shopping, hobbies

$1,500.00

Category

Amount

+ Add Want

Savings & Debt - 20%

Future planning: emergency fund, retirement, extra debt payments

$1,000.00

Category

Amount

+ Add Savings/Debt

Budget Summary

$5,000.00

Total Monthly Income

$2,700.00

Total Expenses

$2,300.00

Remaining Balance

Budget Allocation vs 50/30/20 Rule

Needs (50%) 45%

Wants (30%) 18%

Savings & Debt (20%) 10%

Want to Master the 50/30/20 Budget Rule?

Read our comprehensive guide to understand the popular 50/30/20 budgeting method with real examples and expert tips.

Read 50/30/20 Guide →

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