Budget Planner Calculator
Plan your monthly budget instantly. Free, accurate tool that breaks down income vs expenses, your savings rate, and how your spending compares to the 50/30/20 rule.
Plan Your Monthly Budget
Enter your monthly income and expenses across each category to see exactly where your money goes, your leftover balance, and your savings rate.
Budget Details
Enter your income and expenses to see your full budget breakdown
Budget Results
Your monthly income vs expense breakdown
The 50/30/20 Rule
A widely used guideline for splitting after-tax income across needs, wants, and savings, shown here for a range of example monthly incomes.
| Monthly Income | Needs (50%) | Wants (30%) | Savings (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 |
| $6,000 | $3,000 | $1,800 | $1,200 |
| $8,000 | $4,000 | $2,400 | $1,600 |
Budget Planner FAQ
Everything you need to know about monthly budgeting, savings rates, and the 50/30/20 rule.
The 50/30/20 rule suggests allocating 50 percent of after-tax income to needs such as housing and groceries, 30 percent to wants such as entertainment, and 20 percent to savings and debt repayment.
Add up all sources of monthly income, then list every expense category such as housing, transport, food, and utilities. Subtracting total expenses from total income gives your leftover balance, which can then be directed toward savings or debt.
A commonly cited target is saving at least 20 percent of after-tax income, though this varies with personal circumstances, income level, and financial goals such as retirement or an emergency fund.
Needs typically include housing, utilities, groceries, transportation, insurance, and minimum debt payments — essential costs required to maintain daily life, as distinct from discretionary wants.