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50/30/20 Budget Calculator

How much should go to needs, wants, and savings each month?

The 50/30/20 rule is a simple budgeting framework that divides after-tax income into three categories: 50% for needs (essential living expenses), 30% for wants (discretionary spending), and 20% for savings or debt repayment. Popularized by Elizabeth Warren, it helps manage cash flow so essentials stay covered while you build financial security.

Enter your monthly after-tax income below to see dollar amounts for each bucket. Treat the result as a general guide. You may want to shift percentages depending on your circumstances and goals.

What usually goes in each bucket?

  • Needs: housing, utilities, groceries, transportation, insurance, minimum debt payments, childcare.
  • Wants: dining out, entertainment, subscriptions, hobbies (spending you could reduce if you had to).
  • Savings & debt: emergency fund, retirement, extra debt payments, investments.

Your numbers

Adjust your monthly after-tax income to see how 50/30/20 applies in dollars.

$0$50,000

Monthly breakdown

  • Needs — 50%$2,500
  • Wants — 30%$1,500
  • Savings & Debt — 20%$1,000
Monthly after-tax income $5,000. Needs $2,500, wants $1,500, savings and debt $1,000.

MonthlyIncome

$5,000

Related free tool: Monthly Savings Goal Calculator — Set a savings target, what you already have, and your timeline—see the monthly contribution required and a simple growth chart.

Budget management for everyday households.

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