Budget Calculator (50/30/20)
Split your monthly income into needs, wants and savings with the 50/30/20 rule.
Result
Needs (50%)
1,000.00
Wants (30%)
600.00
Savings (20%)
400.00
How it works
The 50/30/20 rule is a simple way to organise a monthly budget. It splits your after-tax income into three buckets: 50% for needs, 30% for wants, and 20% for savings and debt repayment. Enter your net monthly income and the calculator shows each amount. Needs are the essentials you cannot skip — rent, food, utilities, transport, minimum loan payments. Wants are lifestyle choices like eating out, subscriptions and travel. The final 20% builds your future: an emergency fund, investments, or paying down debt faster. The rule is a starting point, not a law. In high-rent cities needs may exceed 50%; on a tight income, savings may have to wait. Use the split as a mirror — if one bucket is far off, it shows where to adjust.
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Frequently asked questions
Should I use net or gross income?
Net income — the amount that actually reaches your account after tax and deductions. The rule is built around money you can actually spend.
What counts as a need versus a want?
A need is essential to live and work (housing, food, utilities, transport). A want improves comfort but could be cut if necessary (dining out, streaming, holidays).
What if I can't save 20%?
Save what you can and treat 20% as a target to grow into. Even 5% builds the habit; raise it as income rises or costs fall.
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