Budget Calculator (50/30/20 Rule)

Allocate your monthly income using the popular 50/30/20 budgeting rule.

Monthly After-Tax Income ($)

Needs (%)

Wants (%)

Savings (%)

The 50/30/20 Budget Rule

The 50/30/20 rule, popularized by Senator Elizabeth Warren, is a simple budgeting guideline: spend 50% of after-tax income on needs (housing, groceries, utilities, insurance), 30% on wants (dining out, entertainment, hobbies), and 20% on savings and debt repayment. You can adjust the percentages to fit your personal situation. The key is to have a plan for every dollar.