Budget Calculator
Track income vs expenses and see if you follow the 50/30/20 budgeting ruleInputs
Include salary, side income, and any regular income sources
Enter values to see results
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What is this?
The 50/30/20 budget rule is a simple framework for managing your money. Allocate 50% of after-tax income to needs (housing, utilities, groceries, insurance, debt payments), 30% to wants (entertainment, dining out, subscriptions), and 20% to savings and investments. This calculator shows how your current spending compares to these targets.How to use
Enter your monthly after-tax income and all your expenses across categories. The calculator categorizes each expense as a need, want, or savings, then shows your actual percentages vs. the 50/30/20 targets. If you're over in needs (common), look for ways to reduce housing, transportation, or refinance debt. If savings are below 20%, find subscriptions to cancel or reduce dining out.Tips
- If needs exceed 50%, focus on the big three: housing (consider a roommate or cheaper location), transportation (cheaper car, public transit), and debt (refinance high-interest loans)
- Wants creep up quickly - track subscriptions ($10-20 each adds up), dining out (try $50/week limit), and shopping (wait 48 hours before buying)
- If you can't save 20% yet, start with 10% or even 5% - any savings habit is better than none
- Pay yourself first: set up automatic transfers to savings on payday before spending
- Review and adjust every 3 months - income and expenses change, so should your budget
- Use the 50/30/20 rule as a guideline, not a rigid requirement - adjust based on your goals and location costs
Disclaimer: This calculator provides estimates for informational purposes only and does not constitute financial advice. Actual results may vary based on lender terms, market conditions, and individual circumstances. Consult a qualified financial advisor before making financial decisions. See our full disclaimer for details.