Budget Calculator

Plan your monthly budget with the 50/30/20 rule or customize your own

Income

Budget Method

Monthly Take-Home

$5,000

Needs (50%)

$2,500

Wants (30%)

$1,500

Savings (20%)

$1,000

Budget Allocation

Monthly$5,000
Needs50.0%
Wants30.0%
Savings20.0%

Visual Budget

Needs (50%)$2,500
Wants (30%)$1,500
Savings (20%)$1,000

Needs

$2,500
Rent / Mortgage$1,250
Groceries$500
Utilities$250
Transportation$300
Insurance$200

Example breakdown based on typical spending patterns

Wants

$1,500
Dining Out$450
Entertainment$375
Shopping$300
Subscriptions$150
Travel$225

Example breakdown based on typical spending patterns

Savings

$1,000
Emergency Fund$300
Retirement (401k/IRA)$400
Investments$200
Debt Payoff$100

Example breakdown based on typical spending patterns