50/30/20 Budget Calculator
Split after-tax income by the 50/30/20 rule — 50% needs, 30% wants, 20% savings and debt payoff — and compare with your actual spending.
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Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Applies the budgeting rule popularized by Senator Elizabeth Warren's book All Your Worth: of your after-tax income, 50% should cover needs (housing, utilities, groceries, transport, insurance, minimum payments), 30% wants (dining out, travel, subscriptions, fun) and 20% savings and extra debt repayment. Enter your actuals to see which bucket is out of line.
How to use the 50/30/20 Budget Calculator
- Enter your figures in the fields above.
- Check the filing status, state and pay-frequency selections — they change the tables used.
- Read the headline result first, then the breakdown: it shows exactly which tax or amount produced each line.
- Change any input to compare scenarios; the result updates with the same dated tables shown on this page.
Formula
needs target = 0.50 × after-tax income; wants = 0.30 × income; savings = 0.20 × income
- after-tax income
- Take-home pay per month — use the Paycheck Calculator if you only know your salary
Worked example
On $5,500 take-home the targets are $2,750 needs, $1,650 wants and $1,100 savings. The sample actuals run $50 over on needs and $300 under on savings.
Inputs
- Monthly after-tax income5500
- Your actual monthly needs2800
- Your actual monthly wants1200
- Your actual monthly savings & extra debt payoff800
Result
- Needs target (50%)$2,750.00
- Wants target (30%)$1,650.00
- Savings target (20%)$1,100.00
- Unallocated income$700.00
Results explained
- Needs target (50%)
- Half of take-home pay for essentials.
- Savings target (20%)
- Savings plus debt payments beyond the minimums.
Frequently asked questions
Housing, utilities, basic groceries, transportation to work, insurance, childcare and minimum loan payments — bills you must pay to live and work. Premium versions (the luxury car payment over a basic one) are partly wants.
Very common in expensive cities. Treat 50/30/20 as a direction, not a verdict: many coaches suggest 60/20/20 or 70/20/10 while you work needs down or income up. Protect the savings bucket last.
Yes — retirement contributions, including an employer match if you count it in income, plus extra debt principal. The point of the bucket is future-you spending.
Minimums are needs (they are obligatory bills). Anything you pay above the minimum is savings-bucket behaviour because it builds net worth.
At high incomes needs rarely reach 50%, and pushing savings well above 20% is how early retirement happens. The rule matters most as a floor for savings, not a ceiling.