50/30/20 calculator
Updated
Enter your monthly income after tax. The calculator splits it by the 50/30/20 rule: half for needs, 30% for wants, and 20% for savings and extra debt payments.
How it is calculated
Needs = income × 0.5. Wants = income × 0.3. Savings = income − needs − wants, so the three always add up to your income.
The idea behind it
Questions
Gross or net income?
Net: the pay that reaches your account after tax and payroll deductions.
What if my needs take more than half?
That is common where rent is high. Use your real split as the starting point and adjust the other two shares.
Do minimum debt payments count as needs?
Yes. Payments above the minimum belong in the 20%.