50/30/20
Calculator

This Calculator by MoneyFit.org is based upon the 50-30-20 Rule and can provide you the simplest approach to your monthly personal and household budgeting. Recommended percentages are adjustable.

The lean and easy-to-understand 50-30-20 budget calculator has been around since at least the early 2000s. Popularized by Elizabeth Warren in her book, “All Your Worth,” this budget divides 100% of your paycheck (after-tax income) into the three categories:

Things You Need: 50%
Things You Want: 30%
Savings: 20%

50/30/20 Calculator

50/30/20 Budget Calculator

Enter your NET Income (Paycheck, Refund, Gift, etc.)

Net Income is also known as "Take Home," "After Tax" or "Paycheck" income (as opposed to Gross Income)

How often do you expect to receive this income?

If selecting 'Other' please insert only a number.

Your Recommended MONTHLY 50/30/20 Budget Allocations

Spend on Needs:

Spend on Wants:

Prepare for the Future:

Housing & Utilities
Good
Clothing
Transportation
Phone & Internet
Debt Repayments

Entertainment
Dining out
Splurges & Shopping
Spontaneity

Save for Gifts (birthdays, holidays, events)
Save for Vacations & Travel
Save for Appliances
Save for Next Vehicle (and Repairs)
Save for Down Payment
Save for Emergencies
Invest in Retirement Plans (401k, 403b, IRA)
Invest in College Savings (529, Coverdell)

The percentage fields below are adjustable.

Live on 50%

Spend 30% on Wants

Save and Invest 20%

You Need to Adjust Your Monthly Allocation Percentages by This Much

Your Recommended ANNUAL 50/30/20 Budget Allocations

Annually Spend on Needs:

Annually Spend on Wants:

Annually Prepare for the Future:

Housing & Utilities
Good
Clothing
Transportation
Phone & Internet
Debt Repayments

Entertainment
Dining out
Splurges & Shopping
Spontaneity

Save for Gifts (birthdays, holidays, events)
Save for Vacations & Travel
Save for Appliances
Save for Next Vehicle (and Repairs)
Save for Down Payment
Save for Emergencies
Invest in Retirement Plans (401k, 403b, IRA)

The percentage fields below are adjustable.

Live on 50%

Spend 30% on Wants

Save and Invest 20%

You Need to Adjust Your Allocation Percentages by This Much

Debt Repayment Help Is Available

Yes. Please contact me about managing my debt(s).

Please contact me about a program (not a loan) to pay down my consumer debts FASTER, and at LOWER interest rates with my same creditors, and generally at LOWER monthly payments in 5 years or less. As a 501(c)3 nonprofit credit counseing agency, we have helped tens of thousands of consumers annually since our founding in 1996.

Contact Information

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Last

City

Debt counseling and management services only available to US residents

State

We do not sell, transfer or provide your personal information to third-party entities or organizations.

Phone

Many consumers feel living on half their income is impossible, which seems true since we overspend as a nation far beyond our needs. Half of our income would include our housing, food, transportation, insurance, doctor visits, communications and clothing. The 30% for Wants would cover dining out, entertainment, non-necessary shopping and cable/satellite TV. The 20% for savings would be divided into short-term savings (vacations, holiday gift giving, car repair and replacement, furniture, appliances, etc.) and long-term investments (retirement, education).