GlenCalc

Budget calculator

Enter your monthly take-home pay and spending. You see the total, what is left over, and how your needs, wants and savings compare with the 50/30/20 guideline.

Your answer

Left over each month$550.00
Needs$3,250.00; guideline 50%65 %
Wants$700.00; guideline 30%14 %
SavingIncluding what is left over; guideline 20%21 %
50/30/20 targets for your income
PartTargetYours
Needs (50%)$2,500.00$3,250.00
Wants (30%)$1,500.00$700.00
Saving (20%)$1,000.00$1,050.00

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How we worked it out

Updated as you change the numbers.

  1. Needs = $3,250.00, wants = $700.00, saving = $500.00.
  2. Left over = $5,000.00 − all of these.

Method and assumptions

The 50/30/20 guideline splits take-home pay into about 50% for needs, 30% for wants and 20% for saving and paying down debt beyond minimums. It is a starting point; in high-cost areas needs often take more.

Questions

What is the 50/30/20 rule on $5,000 a month?

$2,500 for needs, $1,500 for wants and $1,000 for saving.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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