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Calculation Machine

50/30/20 Budget Calculator

Split take-home pay into needs, wants and savings.

Reviewed by James Whitfield · How we check our maths

Your values

ⓘ Live results

Results
Recommended savings
$840.00
Actual savings left
$800.00
Needs budget (50%)
$2,100.00 — you spend $2,300.00
Wants budget (30%)
$1,260.00 — you spend $1,100.00
Savings rate
19%

Working

  1. 1You are $40.00 short of the 20% target.

Quick answer

The 50/30/20 rule allocates 50% of take-home pay to needs, 30% to wants and 20% to savings and debt repayment.

The formula

Needs 50% · Wants 30% · Savings 20%

Worked example

Worked example

Using the values the calculator loads with.

Inputs

  • Monthly take-home pay4200 $
  • Actual spend on needs2300 $
  • Actual spend on wants1100 $

Result

  • Recommended savings$840.00
  • Actual savings left$800.00
  • Needs budget (50%)$2,100.00 — you spend $2,300.00
  • Wants budget (30%)$1,260.00 — you spend $1,100.00
  • Savings rate19%

How to use the 50/30/20 Budget Calculator

  1. 1Enter your monthly pay after tax.
  2. 2Add what you actually spend on needs and wants.
  3. 3Compare against the 50/30/20 targets.

Frequently asked questions

What counts as a need?

Housing, utilities, groceries, insurance, transport to work and minimum debt payments — anything you cannot skip without serious consequences.

Is 20% savings realistic?

It is a target, not a rule. In high-cost cities many people run closer to 60/30/10 and increase savings as income grows.

About this calculator