Budget Planner
Plan your monthly budget using the proven 50/30/20 rule. Enter your income and expenses to see exactly where your money goes.
Monthly Take-Home Income
Enter your after-tax monthly income. Use the Tax Bracket Calculator to find your take-home pay.
Needs (50%)
$2,650
53.0% of income | Target: $2,500
Wants (30%)
$600
12.0% of income | Target: $1,500
Savings (20%)
$500
10.0% of income | Target: $1,000
Budget Breakdown
Budget Summary
Needs — Target: 50% of Income
Wants — Target: 30% of Income
Savings — Target: 20% of Income
Budgeting Apps to Help You Stay on Track
Try YNAB Free for 34 Days
The most powerful budgeting app available. Based on the zero-based budgeting method.
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Try Monarch Money Free
Modern money management with automatic transaction tracking and net worth monitoring.
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Frequently Asked Questions
What is the 50/30/20 budget rule?
The 50/30/20 rule allocates your after-tax income into three buckets: 50% to needs like housing, food, and transportation; 30% to wants like dining out and entertainment; and 20% to savings and debt repayment. It is a simple framework that works for most income levels and was popularized by Senator Elizabeth Warren.
How do I start a monthly budget?
Start by entering your monthly take-home pay above. Then fill in your actual monthly expenses in each category. The planner will automatically show you whether you are on target for each 50/30/20 category and how much is left over. Adjust your expenses to get as close to the targets as possible.
What counts as a need vs a want?
Needs are essential expenses required to live and work: rent or mortgage, utilities, groceries, basic transportation, minimum debt payments, and health insurance. Wants are non-essential: dining out, streaming services, gym memberships, and entertainment. When in doubt, ask whether you could survive without it.
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