Debt, budgeting and life insurance
50/30/20 Budget Calculator
Enter your monthly take-home pay and see how the 50/30/20 rule splits it into needs, wants and savings or debt payoff, in dollars per month and per year.
Your 50/30/20 Budget
After-Tax IncomeHow This Calculator Works
The 50/30/20 rule splits your take-home pay into three parts: 50% for needs (housing, groceries, utilities, transportation, insurance and minimum debt payments), 30% for wants (dining out, travel, entertainment, hobbies) and 20% for savings, investing and extra debt payments.
Enter your monthly after-tax pay to see the dollar amount for each part. The split is a starting point, not a law, so adjust it to fit your own situation.
Frequently Asked Questions
Does my 401(k) count toward the 20% for savings?
Yes. Retirement contributions count as savings. If 401(k) or HSA contributions come out of your paycheck before it reaches your bank account, add them back to your take-home pay and count them toward the 20% savings share.
What if my housing costs push needs above 50%?
Many people in expensive cities end up closer to 60/20/20: 60% for needs, 20% for wants and 20% for savings. Trim wants first and try to protect the savings share.
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