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50/30/20 Budget Calculator

It’s just hard to know what’s actually safe to spend in the moment. The 50/30/20 rule is a simple starting point: 50% of take-home pay for needs, 30% for wants, 20% for savings and extra debt payments. Enter your pay to see the numbers per month and per paycheck.

1. Your take-home pay

2. Your split

50/30/20 is the classic. If rent is high, a 60/20/20 or 70/20/10 split is more realistic.

Your budget

Needs 50%
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Wants 30%
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Savings 20%
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How to use the 50/30/20 rule

  1. Start from take-home pay, what lands in your account, not your salary.
  2. Needs (50%): things you have to pay: rent or mortgage, utilities, groceries, insurance, transportation to work, minimum debt payments, childcare.
  3. Wants (30%): eating out, streaming, hobbies, travel, upgrades. Nice to have, could cut if you had to.
  4. Savings (20%): emergency fund, retirement, sinking funds, and any payment above the minimum on debt (see the debt snowball calculator).
  5. Adjust to real life. If needs take more than half, use 60/20/20 or 70/20/10 for now. A split you can keep beats a perfect one you drop.

FAQ

What is the 50/30/20 rule?

A simple budget rule: spend 50% of your after-tax pay on needs, 30% on wants, and put 20% toward savings and extra debt payments. It was popularized by Elizabeth Warren and Amelia Warren Tyagi in the book All Your Worth.

Is 50/30/20 based on gross or net pay?

Net, meaning take-home pay after taxes and payroll deductions. If you already save for retirement through payroll, you can count that toward the 20% if you like.

How do you work out monthly pay from biweekly paychecks?

Paycheck × 26 ÷ 12. Weekly is × 52 ÷ 12, twice a month is × 2. So $1,800 every two weeks is about $3,900 a month on average, even though most months you only get 2 checks ($3,600).

Are minimum debt payments needs or savings?

Minimum payments are needs. Anything you pay above the minimum counts toward the 20%.

What if my needs are more than 50%?

That's common, especially with high rent. Pick a split that fits right now, like 60/20/20 or 70/20/10, and work toward lowering needs over time. Enter your real needs total above to see where you stand.

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