Monthly Budget Calculator — 50/30/20 Rule Planner
Plan your monthly budget free using the 50/30/20 rule. Track income against needs, wants and savings, see your remaining balance, and find your savings potential — instantly and privately.
Last updated: June 2026
Currency
Needs
Target 50%Wants
Target 30%Savings
Target 20%Your budget
- Total income
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- Total expenses
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- Remaining
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50/30/20 analysis
Insights
Savings projection
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A free monthly budget planner built on the 50/30/20 rule.
A budget calculator turns a vague sense of where your money goes into a clear monthly plan. This planner uses the popular 50/30/20 rule: aim to spend about half your take-home income on needs, just under a third on wants, and at least a fifth on savings and debt repayment. Enter your income, fill in your expenses across the three categories, and the tool instantly shows your totals, what's left over, and how your real spending compares with those targets — with a colour-coded bar that makes imbalances obvious at a glance.
The category breakdown is the point. Needs cover rent or EMI, groceries, utilities, transport, insurance and minimum loan payments. Wants cover dining out, streaming, shopping, travel and personal care. Savings cover your emergency fund, investments and any extra debt payoff. You can add custom line items to any section, so the budget fits your actual life rather than a generic template. As you type, contextual insights flag when your needs are crowding out savings or when your spending exceeds your income.
Turn a balanced budget into real wealth
Hitting the 20% savings target is where long-term wealth comes from. The savings projection shows how the amount you set aside each month could grow at an assumed 7% return over one, five and ten years — a reminder that small, consistent contributions compound. From there, model specific goals with the savings goal calculator, plan investments with the investment calculator, or check long-term security with the retirement calculator. Everything here is private — your figures never leave your browser — so you can budget honestly, for free, as often as you need.
Financial Disclaimer: This budget calculator is for general informational and educational purposes only and is not financial advice. The 50/30/20 split is a guideline, and the savings projection assumes a fixed 7% return that is not guaranteed. Consult a qualified advisor for personal financial planning.
How it works
Three quick steps — no account, nothing uploaded to a server.
Enter your income
Add your monthly take-home pay and pick your currency.
List your expenses
Fill in needs, wants and savings — add custom items as needed.
Check the 50/30/20 split
See your balance, insights and how your savings could grow.
Money management guidance on this page aligns with resources from the Consumer Financial Protection Bureau (CFPB). Last checked July 2026.
FAQ
Frequently asked questions
What is the 50/30/20 budget rule?
The 50/30/20 rule is a simple budgeting framework popularised by US Senator Elizabeth Warren. It suggests allocating 50% of your take-home income to needs (rent, groceries, utilities, transport, insurance and minimum loan payments), 30% to wants (dining out, entertainment, shopping and travel), and 20% to savings and debt repayment (emergency fund, investments and extra loan payoff). It's a flexible guideline, not a strict law, but it gives most people a healthy starting balance.
How do I create a monthly budget?
Start with your monthly take-home income — the amount that actually lands in your account after tax. Then list your expenses, grouped into needs, wants and savings. Enter each amount in this calculator and it instantly shows your totals, what's left over, and how your spending compares with the 50/30/20 targets. Review it monthly, adjust the categories that are over target, and aim to push more towards savings as your income grows.
What counts as a 'need' versus a 'want'?
Needs are expenses you can't easily avoid — housing, basic groceries, utilities, commuting, insurance and minimum debt payments. Wants are lifestyle choices you could cut back if necessary — restaurant meals, streaming subscriptions, new clothes, holidays and hobbies. The line can blur (a basic phone plan is a need; an expensive one is partly a want), so use your judgement. The goal is awareness, not perfection.
Is my budget data private?
Completely. This budget calculator runs entirely in your browser — your income, expenses and any custom items are never saved, uploaded or sent to any server. Nothing is stored after you close the tab. That makes it safe to enter your real financial figures, and it's why there's no account or sign-up required.
How much should I save each month?
The 50/30/20 rule targets 20% of take-home income for savings and debt repayment, but the right number depends on your goals and stage of life. Prioritise building a 3–6 month emergency fund first, then direct the rest towards investments and any high-interest debt. If 20% isn't achievable yet, start with whatever you can — even a small, consistent amount compounds meaningfully over time, as the savings projection in this tool shows.
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