About this tool
The 50/30/20 rule sends half of take-home pay to needs, 30% to wants, and 20% to savings and debt payoff. It is popular because it is simple enough to keep to. This calculator turns your monthly pay into those three ceilings and shows what the savings slice becomes over a year and five years.
Rent has outrun the rule in many cities, so the presets include 60/20/20 and 70/20/10, or enter your own split. The point is not the exact percentages but having a number for wants that you stop at.
How to use it
- Enter your monthly take-home pay.
- Keep the 50/30/20 split or pick another preset or custom percentages.
- Use the three amounts as monthly ceilings for needs, wants, and savings.
Questions
What counts as a need?
Anything you would be in trouble without: housing, utilities, groceries, insurance, transport to work, minimum debt payments, childcare. Restaurants, subscriptions, upgrades, and holidays are wants even when they feel necessary.
Should retirement contributions count in the 20%?
Yes. A 401(k) contribution taken from your paycheck is savings; add it back to your take-home figure and count it in the savings slice to see the true split.
Is anything I type sent anywhere?
No. The calculator runs entirely in your browser; nothing is stored or transmitted. Refresh the page and it starts clean.
Is it free, are files uploaded, which browsers work: the general questions are answered once for the whole site.