50/30/20 Budget Calculator
Balance your budget using the popular 50/30/20 rule: 50% needs, 30% wants, 20% savings.
Housing, utilities, food, transportation, insurance, minimum debt payments
Recommended: $2,500.00
Entertainment, dining out, hobbies, subscriptions, shopping
Recommended: $1,500.00
Emergency fund, retirement, investments, extra debt payments
Recommended: $1,000.00
The 50/30/20 Rule Explained
50% Needs: Essential expenses you must pay: housing, utilities, groceries, transportation, insurance, minimum debt payments. These are non-negotiable.
30% Wants: Non-essential spending that improves your life: dining out, entertainment, hobbies, subscriptions, vacations. You could live without these if needed.
20% Savings: Pay yourself first - retirement contributions, emergency fund, investments, and extra debt payments beyond minimums.
Flexible framework: This is a guideline, not a strict rule. Adjust based on your goals and circumstances. High-cost areas may require 60/20/20.
This calculator provides estimates for educational purposes only.