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.
Monthly breakdown
- Needs — 50%$2,500
- Wants — 30%$1,500
- Savings & Debt — 20%$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.