Budget & Freedom Free Tool
50/30/20 Calculator
Use your monthly take-home income to estimate a 50/30/20 budget, then compare it with your current spending if you want.
Your Monthly Income
Use income after taxes and payroll deductions.
Optional: Your Current Monthly Allocation
Enter your current amounts to compare them with the 50/30/20 guideline. Leave these blank if you only want the suggested targets.
Housing, groceries, utilities, transportation, insurance and other essentials
Dining out, entertainment, hobbies, travel, shopping and other non-essentials
Savings, investing and debt payments above required minimums
Your 50/30/20 Budget Estimate
Suggested maximum for essential expenses
Suggested amount for flexible spending
Suggested amount for future goals
Your Current Allocation Compared With 50/30/20
| Category | Your amount | Your % | 50/30/20 target | Difference |
|---|---|---|---|---|
| Needs | ||||
| Wants | ||||
| Savings & extra debt |
How the 50/30/20 guideline works
The guideline divides monthly take-home income into three broad categories:
- 50% Needs: Essential expenses you generally must pay
- 30% Wants: Flexible or non-essential spending
- 20% Savings & extra debt: Savings, investing and debt payments above required minimums
These percentages are a simple guideline, not a requirement. Housing costs, family needs, debt levels, income and local costs can make a different split more practical.