Budget Calculator
Enter your monthly after-tax income and what you spend on needs, wants and savings. The calculator shows what is left over, your savings rate and how your split compares with the 50/30/20 rule of thumb.
Last updated November 4, 2026
Result
Left over each month = $1,000.00
| Result | Value |
|---|---|
| Needs | $2,900.00 (58%) |
| Wants | $600.00 (12%) |
| Savings and investing | $500.00 (10%) |
| Total planned | $4,000.00 |
| Remaining | $1,000.00 |
| Savings rate | 10% |
| Group | Your amount | Your share | 50/30/20 target | Above (+) or below (-) |
|---|---|---|---|---|
| Needs | $2,900.00 | 58% | 50% ($2,500.00) | +$400.00 |
| Wants | $600.00 | 12% | 30% ($1,500.00) | -$900.00 |
| Savings | $500.00 | 10% | 20% ($1,000.00) | -$500.00 |
50/30/20 is a popular rule of thumb, not a requirement. Use after-tax income, and count minimum debt payments as needs.
Show the work
Formula: Remaining = income − needs − wants − savings. Share = amount ÷ income × 100. 50/30/20 target = income × 50%, 30% or 20%.
- Needs: $1,500.00 + $250.00 + $500.00 + $300.00 + $200.00 + $150.00 = $2,900.00.
- Wants: $250.00 + $200.00 + $50.00 + $100.00 = $600.00.
- Total planned: $2,900.00 + $600.00 + $500.00 = $4,000.00.
- Remaining: $5,000.00 − $4,000.00 = $1,000.00.
- Savings rate: $500.00 ÷ $5,000.00 × 100 = 10%.
- Needs share 58% vs 50% ($2,500.00); wants 12% vs 30% ($1,500.00); savings 10% vs 20% ($1,000.00).
Result: Left over each month = $1,000.00
How the budget is calculated
Remaining = income − needs − wants − savings
The calculator adds the amounts you enter in each group. Needs are the six lines at the top of the form: housing, utilities and phone, groceries, transportation, insurance and health, and minimum debt payments. Wants are dining out, entertainment and hobbies, subscriptions, and other wants. Savings is whatever you set aside for savings, investing or debt payments above the minimums.
Total planned spending is needs plus wants plus savings. Subtract it from your monthly income to get the remaining amount. A negative result means the plan spends more than you earn, and the calculator reports it as a shortfall instead.
Each group is also shown as a share of income: amount divided by income, times 100. Your savings rate is the savings amount divided by income. Money left unplanned is not counted as savings, so assign it to a category if you intend to save it.
See how we calculate for the formulas, sources and review schedule behind every calculator.
Also useful alongside this calculator: Percentage Calculator.
The 50/30/20 comparison
The 50/30/20 split is an illustrative budgeting framework, not an official standard or universal rule: about 50% of after-tax income for needs, 30% for wants and 20% for savings and extra debt payments. The table under your result shows your share in each group, the dollar target for your income and the difference from it.
It is a starting point, not a requirement. In a high-cost area, needs may take well over half of income, and a person paying off an expensive debt may deliberately shrink wants. Use the gap as a prompt for questions, not as a grade.
Sorting needs from wants
A need is something you must pay to live and work: a place to live, basic food, transport to work, required insurance and the minimum payment on debts. A want is something you could reduce without serious consequences. Many items sit in between, such as a phone plan or groceries versus restaurant meals, so split them honestly by the part you could cut.
Use after-tax income, meaning the amount that reaches your account. If your income varies, enter a conservative monthly average. For irregular bills such as annual insurance, divide the yearly cost by 12 so every month shows the real cost.
What this calculator does not do
It works with one month of figures you enter. It does not track actual spending, import transactions, handle taxes or predict changes in prices. The result is only as accurate as the amounts you provide, so check them against a recent bank or card statement.
General information, not financial advice
This calculator gives a general estimate from the numbers you enter. It is not financial or tax advice, and your actual results can differ. Check important decisions with a qualified professional or the official source.
How to use the Budget Calculator
- Enter your monthly income after tax.
- Fill in each need and want with a typical monthly amount, using 0 for lines that do not apply.
- Enter how much you save or invest each month.
- Read the remaining amount, your savings rate and the 50/30/20 table, then adjust the lines you can change.
Worked example
Income of $5,000 a month. Needs: $1,500 + $250 + $500 + $300 + $200 + $150 = $2,900. Wants: $250 + $200 + $50 + $100 = $600. Savings: $500. Total planned is $4,000, so $1,000 remains and the savings rate is 500 ÷ 5,000 = 10%.
| Group | Your amount | Your share | 50/30/20 target | Difference |
|---|---|---|---|---|
| Needs | $2,900.00 | 58% | 50% ($2,500.00) | +$400.00 |
| Wants | $600.00 | 12% | 30% ($1,500.00) | -$900.00 |
| Savings | $500.00 | 10% | 20% ($1,000.00) | -$500.00 |
Frequently asked questions
Should I enter income before or after tax?
Use income after tax, the amount that actually lands in your account. The 50/30/20 rule is normally described against after-tax pay, so gross figures would make every share look smaller.
What counts as savings in this calculator?
Savings is money you move to savings, retirement or investment accounts, plus debt payments above the required minimums. Minimum debt payments belong under needs instead.
Why is my remaining amount not counted as savings?
Unassigned money tends to be spent, so the savings rate uses only the amount you plan to save. Move leftover money into the savings line if you intend to keep it.
What if my needs are more than 50% of income?
That is common when housing is expensive. The 50/30/20 split is a guideline, so look for the largest line you can change and keep the savings rate as high as you can.