50/30/20 Budget Calculator
50/30/20 Budget
Split your income into needs, wants, and savings using the 50/30/20 rule
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Formula
Needs = Income x 0.50; Wants = Income x 0.30; Savings = Income x 0.20
Frequently Asked Questions
What is the 50/30/20 rule?
The 50/30/20 rule allocates 50% of after-tax income to needs, 30% to wants, and 20% to savings and debt repayment.
What counts as needs vs wants?
Needs include housing, food, utilities, and insurance. Wants include dining out, entertainment, and subscriptions.