Budget Calculator (50/30/20 Rule)

Steady finances start with a plan for where each dollar goes. The 50/30/20 framework keeps that plan simple by sorting your income into three buckets: Needs, Wants, and Savings. This tool applies that split to your paycheck automatically, so you can see the targets at a glance, or lets you set your own percentages with the Custom Split option.

Under the rule, 50% of your after-tax income goes to 'Needs,' 30% to 'Wants,' and 20% to 'Savings & Debt Repayment.' Feed in your total monthly net income—what lands after taxes, 401k contributions, and the like—and the calculator runs the three percentages for you: Needs = Net Income * 0.50, Wants = Net Income * 0.30, and Savings = Net Income * 0.20.

Think of these ratios as a sensible default, not a rule you must obey to the penny. The slip-up to watch for is letting categories bleed together, like filing restaurant meals as a 'need' alongside rent, which quietly inflates the essentials column. Debt is split between the buckets: rent or a mortgage and the minimum payments on your loans are needs, while anything you pay above the minimums belongs in the savings bucket, since paying down balances is itself a form of building wealth.