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Budget Calculator

Plan your monthly spending with a practical 50/30/20 framework. This helps you quickly spot whether your essentials, lifestyle spending, and savings are balanced.

Monthly Take-Home Income

Needs (50%)

Housing (rent/mortgage)

Utilities

Groceries

Transportation

Insurance

Minimum debt payments

Wants (30%)

Personal / lifestyle

Entertainment / dining / subscriptions

Savings + Investing (20%)

Monthly Leftover

$320

Great — you’re budgeting below your income.

Income

$5,500

Total Planned Spending

$5,180

Your 50/30/20 Snapshot

Needs: 64.5%

Target: 50%

Wants: 17.8%

Target: 30%

Savings: 11.8%

Target: 20%

Category guidance vs target

Bucket	Your Amount	Target	Difference
Needs	$3,550	$2,750	+$800
Wants	$980	$1,650	-$670
Savings	$650	$1,100	-$450

How to use the 50/30/20 budget rule

The 50/30/20 rule is a simple budgeting baseline: around 50% of take-home pay for needs,30% for wants, and 20% for savings and debt payoff beyond minimums.

What if your numbers don't match exactly?

That's normal. Use this as a directional target, not a strict law. If your housing costs are high, you may need to trim wants temporarily or increase income to keep savings on track.

Tip: Revisit this budget monthly. Small changes in recurring subscriptions, groceries, and debt payments can free up more for emergency savings and investing.