50/30/20 Budget Calculator
Split your monthly income into needs, wants, and savings using the 50/30/20 budgeting rule.
Your 50/30/20 Split
5,000
Monthly income
- Needs (50%)
- 2,500
- Wants (30%)
- 1,500
- Savings & debt payoff (20%)
- 1,000
Rent, utilities, groceries, minimum debt payments
Dining out, subscriptions, hobbies
Emergency fund, investments, extra debt payments
On this page
The 50/30/20 rule is a simple starting budget: 50% of after-tax income to needs, 30% to wants, and 20% to savings and debt payoff beyond the minimum. Enter your monthly income above to see the split.
The formula
Needs = income x 0.50
Wants = income x 0.30
Savings = income x 0.20
Example
The rule is currency-agnostic: it splits whatever you earn, in whatever you earn it in. On a monthly after-tax income of 5,000, that's 2,500 for needs, 1,500 for wants, and 1,000 toward savings or extra debt payments.
Turning this into a habit
A calculator gives you the target; expense tracking is what tells you whether you're hitting it. Once you know your real needs/wants split, you can set those three numbers as budgets in Money Manager and log against them.