Budget Calculator

Plan your monthly budget with the 50/30/20 rule. See exactly where your money goes and how much you should be saving.

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🏠 NEEDS (50%)

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🎯 WANTS (30%)

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💰 SAVINGS (20%)

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Monthly Budget Summary

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Needs $0
Wants $0
Savings $0

📐 Formula

Needs ≤ 50% of take-home income. Wants ≤ 30%. Savings/debt ≥ 20%

Frequently Asked Questions

Allocate 50% of take-home pay to needs (housing, food, transport, utilities), 30% to wants (dining, entertainment, hobbies), and 20% to savings and debt repayment. It was popularised by Senator Elizabeth Warren in All Your Worth.

Needs are essentials you cannot live without: rent/mortgage, basic groceries, utilities, minimum debt payments, and essential transport. Wants are nice-to-haves: streaming services, gym memberships, restaurants, and non-essential shopping.

Start with whatever you can — even 5% is better than 0%. Automate savings so they happen before you spend. As income grows or debts are paid off, gradually increase your savings rate. The goal is progress, not perfection.