50/30/20 Budget Calculator
The simplest budgeting rule in personal finance. Enter your income and instantly see how to split it into needs, wants, and savings — then track how your actual spending compares.
Full Breakdown
Annual View
Needs
Essential expenses you must pay to live and work. If you stopped working tomorrow, these are what you'd still owe.
- Rent or mortgage
- Groceries & household
- Utilities & internet
- Health & auto insurance
- Minimum debt payments
- Transportation to work
Wants
Things that make life enjoyable but aren't strictly necessary. These are the first to cut in an emergency.
- Dining out & takeout
- Streaming & subscriptions
- Gym & hobbies
- Shopping & clothing
- Entertainment & events
- Vacations & travel
Savings & Debt
Building your future. This is where wealth is built — emergency fund, retirement, investing, and extra debt payoff.
- Emergency fund
- 401(k) / IRA contributions
- Extra debt payments
- General investing
- Down payment savings
- College savings (529)
How the 50/30/20 Formula Works
All calculations use your after-tax (take-home) income, not gross salary. The formula:
Source: Elizabeth Warren & Amelia Warren Tyagi, "All Your Worth" (2005). Endorsed by the Consumer Financial Protection Bureau (CFPB) as a practical budgeting framework.
Want the full 50/30/20 deep-dive?
Our guide covers how to handle high-cost-of-living areas, what to do if 50% isn't enough for needs, and how to adjust the rule for your situation.
