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
$
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

$

$

$
  • 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.

%
%
%

%

Your Recommended ANNUAL 50/30/20 Budget Allocations

$

$

$
  • 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.
%
%
%

%
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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).

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