Budget Calculator
Create a simple monthly budget. Enter your income and expense categories to see where your money goes and whether you're on track. Based on the 50/30/20 budgeting rule.
Part of our Finance Calculators collection.
Budget Calculator
Free online calculator
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How to Use This Calculator
- 1
Enter your monthly take-home income.
- 2
Fill in each spending category.
- 3
See your total expenses, remaining balance, and how you compare to the 50/30/20 rule.
The 50/30/20 Budgeting Rule
Needs (50%): Housing, utilities, groceries, insurance, minimum debt payments Wants (30%): Dining, entertainment, clothing, subscriptions Savings/Debt (20%): Savings, investments, extra debt payments Remaining = Income − All Expenses
Example Calculation
Example: $5,000 take-home, $4,200 in expenses
Inputs
monthlyIncome: 5000housing: 1500utilities: 200groceries: 400transport: 400insurance: 200entertainment: 300clothing: 100subscriptions: 100savings: 500debtPayments: 300otherExpenses: 200
Result
$800 remaining | 48% needs, 14% wants, 16% savings
Total expenses of $4,200 leaves $800 unallocated. Adjust categories to optimise your 50/30/20 split.
Frequently Asked Questions
What is the 50/30/20 rule?
A popular budgeting guideline: 50% of after-tax income to needs, 30% to wants, 20% to savings and debt repayment. It's a starting point, not a strict rule — adjust ratios to fit your situation.
I'm spending more than I earn — what do I do?
Identify the biggest expense categories and look for cuts. Housing and transport (the 'Big 3' along with food) typically offer the most impactful reduction opportunities.