Quick answer
The Budget Calculator (50/30/20) shows split take-home pay into needs, wants, and savings with the 50/30/20 rule or your own split. How it works: Each bucket = take-home pay × its percentage. For example, with monthly take-home pay of $4500, needs of 50 %, and wants of 30 %, the needs is $2,250.00.
How to use the Budget Calculator (50/30/20)
- Enter monthly take-home pay.
- Enter needs.
- Enter wants.
- Enter savings and debt.
- Read needs and the breakdown. Use Share to send the exact numbers, or Print to save a PDF.
How it's calculated
- Each bucket = take-home pay × its percentage
Worked example
With monthly take-home pay of $4500, needs of 50 %, wants of 30 %, and savings and debt of 20 %:
Needs: $2,250.00. Wants: $1,350.00.
Questions people ask
What counts as a need?
Housing, utilities, groceries, insurance, transport to work, and minimum debt payments.