Budget Planner
Sort every pound you earn into needs, wants, and savings or debt. The 50/30/20 rule keeps the split honest. Enter your monthly take-home pay and your actual spending, and the calculator shows the split as percentages so you can see where you stand.
Result
0% needs / 0% wants / 0% savings
The formula
Each category is a share of take-home pay:
- Needs: 50% of income (rent, utilities, groceries, minimum debt payments)
- Wants: 30% of income (dinners out, subscriptions, hobbies)
- Savings / debt repayment: 20% of income (emergency fund, investments, extra debt)
Percentage shown = category ÷ income × 100. Any amount above 20% in savings is flagged as a stretch target.
Worked examples
- $4,000 monthly income
- Needs = 50% × 4,000 = $2,000. Wants = 30% × 4,000 = $1,200. Savings = 20% × 4,000 = $800. Total = $4,000.
- $4,000 income, $2,200 needs, $800 wants
- Needs = 2,200 ÷ 4,000 = 55%. Wants = 800 ÷ 4,000 = 20%. Savings = extra ÷ 4,000. Total = 100%. The 5% overspend on needs means you can cut subscriptions or reduce wants to get back to 50/30/20.
This is a planning aid. It does not include irregular expenses (car repair, holiday) or tax owed on top of take-home. Re-run your budget every pay day.