Budget Calculator
See where your monthly take-home pay goes and how it compares with the 50/30/20 split.
A budget calculator subtracts what you spend each month from your take-home pay. With $5,000 of pay, $2,900 on needs, $530 on wants and $500 on savings and extra debt, $1,070 is left over. Needs take 58.0% of pay against the 50% in the 50/30/20 guide, which is $400 over. Enter your own amounts to see your split.
This calculator is for general education, not financial advice. It adds up the amounts you enter and compares them with the 50/30/20 split, which is a guideline and not a rule for every household. It does not know your debts, taxes or goals, so treat the results as a starting point for your own plan.
Dollars and cents only, such as 1,600 or 59.99. Leave a box blank for 0.
Left over each month
$1,070.00
- Take-home pay
- $5,000.00
- Planned spending and saving
- $3,930.00
- Needs (58.0% of pay)
- $2,900.00
- Wants (10.6% of pay)
- $530.00
- Savings and extra debt (10.0% of pay)
- $500.00
Against the 50/30/20 guide
- Needs: $2,500.00 at 50%
- $400.00 over the 50% guide
- Wants: $1,500.00 at 30%
- $970.00 under the 30% guide
- Savings and extra debt: $1,000.00 at 20%
- $500.00 under the 20% guide
The 50/30/20 split is a starting guide for take-home pay, not a rule. Where rent or debt payments are high, needs above 50% can be normal.
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About the Budget Calculator
A budget starts from take-home pay, the amount that reaches your account after taxes and payroll deductions, because that is the money you can actually spend. This calculator sorts spending into three groups. Needs are the bills you would still owe in a lean month: rent or mortgage, utilities, groceries, getting to work, insurance and the minimum payments on your debts. Wants are the things you choose, such as eating out, entertainment, shopping and subscriptions. Savings covers money you set aside or invest and anything you pay on debt beyond the minimum. The results show what is left over, each group's share of your pay, and how each group compares with the 50/30/20 split, a common starting guide of half for needs, three tenths for wants and a fifth for savings. The split is a yardstick, not a test you pass or fail. In a high-rent city, needs over 50% can be the norm, and the useful question is which group has room to move. If the result says you are over budget, the amounts entered add up to more than you take home, and the difference is coming from savings, credit or both.
Frequently asked questions
What is the 50/30/20 budget?+
It splits take-home pay into three parts: 50% for needs, 30% for wants and 20% for savings and paying down debt. It comes from the 2005 book All Your Worth by Elizabeth Warren and Amelia Warren Tyagi and is meant as a starting point you adjust to your own costs.
Should I enter my salary before or after tax?+
After tax. Enter the monthly amount that lands in your bank account, because taxes and payroll deductions never reach you to spend. If you are paid every two weeks, multiply one paycheck by 26 and divide by 12 to get a monthly figure.
Where do debt payments go?+
The minimum payment on each debt goes under needs, because you owe it every month. Anything you pay above the minimum goes under savings, since the 50/30/20 guide counts money paid down on debt together with savings.
What if my needs are above 50%?+
That is common where housing costs are high. The guide does not say which group to change. Compare each group with its figure, and treat the split as a reference point rather than a target you must hit this month.
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