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Apply proven budget rules to your take-home pay and see exactly how to split your money.
Monthly Savings
$1,000
20% of income · $12,000 per year
Monthly Needs
$2,500
Monthly Wants
$1,500
Annual Savings
$12,000
Annual Needs
$30,000
Needs
$2,500/mo
$30,000/yr
Wants
$1,500/mo
$18,000/yr
Savings
$1,000/mo
$12,000/yr
| Category | % of Needs Budget | Suggested Monthly |
|---|---|---|
| Housing (rent/mortgage) | 50% | $1,250 |
| Food & Groceries | 20% | $500 |
| Transportation | 15% | $375 |
| Utilities & Bills | 10% | $250 |
| Insurance | 5% | $125 |
| Total Needs | 100% | $2,500 |
50/30/20 Rule
Best for: Most households with stable income
The most popular budget framework. 50% for needs (housing, food, transport), 30% for wants (entertainment, dining out, subscriptions), and 20% for savings and debt repayment.
70/20/10 Rule
Best for: High cost-of-living areas or lower incomes
Allocates more for living expenses — ideal for those in expensive cities or starting careers where essential costs eat up more of the paycheck. 10% savings is the minimum floor.
60/20/20 Rule
Best for: Aggressive savers or those paying off debt
Balanced approach that keeps needs moderate while doubling savings vs the 70/20/10. Great for those building an emergency fund, saving for a home, or aggressively paying down debt.
Custom Rule
Best for: Unique financial situations
Set your own percentages to match your personal situation. Ensure needs + wants + savings = 100% for an accurate picture of your full monthly budget.
Budget Calculator (50/30/20 Rule) applies the 50/30/20, 70/20/10, or 60/20/20 budget framework to divide after-tax monthly income into needs, wants, and savings — with sub-category spending suggestions for the needs bucket.
Budget Calculator (50/30/20 Rule) is a high-performance utility designed to help users streamline their workflow. Built with modern web technologies, it ensures fast processing times and high-quality outputs directly in your browser.
Allocations are computed as (income × percentage / 100) for each budget category. Sub-category needs breakdowns apply suggested proportions: housing 50%, food 20%, transportation 15%, utilities 10%, insurance 5% of the total needs bucket. These are starting guidelines, not prescriptions.
The 50/30/20 rule allocates 50% of after-tax income to needs (rent, food, utilities), 30% to wants (dining, entertainment, subscriptions), and 20% to savings and debt repayment. It's a popular starting framework.
Needs are expenses required for basic living: rent/mortgage, groceries, utilities, transportation to work, health insurance. Wants are non-essential: restaurants, Netflix, gym memberships, vacations.
In expensive cities (NYC, SF), housing alone can exceed 30–40% of income, making the 50% needs target hard. The 70/20/10 rule may be more realistic, or use the custom option to match your actual situation.
Priority order: (1) employer 401(k) match — free money, (2) high-interest debt payoff, (3) emergency fund (3–6 months expenses), (4) retirement accounts (IRA, 401k), (5) investment accounts.
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Estimate your take-home pay after federal, FICA, state taxes, 401(k), and health premiums.