50/30/20 Rule:
• 50% for Needs (housing, groceries, utilities)
• 30% for Wants (entertainment, dining, hobbies)
• 20% for Savings & Debt Repayment
• 50% for Needs (housing, groceries, utilities)
• 30% for Wants (entertainment, dining, hobbies)
• 20% for Savings & Debt Repayment
50/30/20 Budget Rule
Enter monthly income and the calculator divides it into three categories: 50% for needs, 30% for wants and 20% for savings. It also provides weekly estimates and annual projections.
What the Results Show
The calculator reports monthly needs, wants and savings, approximate weekly amounts for needs and wants, annual savings and annual spending.
Planning Note
The 50/30/20 split is a budgeting framework rather than a universal requirement. Your actual allocation can depend on income, housing costs, debt, household needs and financial goals.