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Split income with the 50/30/20 rule.
A Budget Calculator based on the popular 50/30/20 rule splits your monthly after-tax income into three buckets: 50% for needs, 30% for wants and 20% for savings and debt repayment. It is a simple framework for turning a paycheck into a plan.
The percentages are adjustable, so you can tailor the split to your own goals — for example dialing up savings during a debt payoff or a big savings push — while keeping the total at 100%.
The percentages are editable; keep them summing to 100% for an accurate split.
Net (after-tax, take-home) income. The 50/30/20 rule is designed around the money that actually reaches your account each month.
Needs are essentials you must pay to live and work — housing, utilities, groceries, transport and minimum debt payments. Wants are things you enjoy but could cut, like dining out, streaming services and holidays.
Yes. The split is fully editable — for instance 60/20/20 if your cost of living is high, or 50/20/30 to save more aggressively. Just keep the three numbers adding up to 100%.