The 50/30/20 rule is a common budgeting guideline, not a law or an official standard: roughly half of take-home pay for needs, 30% for wants and 20% for savings and extra debt payments. Enter your monthly take-home pay to see your targets, then optionally add what you actually spend to compare.
Your 50/30/20 targets
| Category | Target | Actual |
|---|---|---|
| Needs (50%) | ||
| Wants (30%) | ||
| Savings (20%) |
Estimate only, not tax or financial advice. 50/30/20 is a rough starting point. In high-cost areas needs often take more than half, and that is fine; the point is to see where your money goes.
How this works
Targets are 50%, 30% and 20% of the take-home pay you enter. Nothing is saved or sent anywhere.
Sources
The 50/30/20 split is a widely used rule of thumb, not an official figure, so there is no government source to cite. By Fintrovert.