What is the 50/30/20 budget rule?

The 50/30/20 rule allocates 50% of after-tax income to needs, 30% to wants, and 20% to savings and debt repayment.

How do I calculate my savings rate?

Savings rate = (Income - Expenses) / Income × 100. A healthy savings rate is 20% or more.

Plan your monthly budget, track actual spending, and discover how much you can save. Free, instant, no sign-up required.

Total Monthly Income (after tax)

Total Income$5,000

Budgeted Expenses$4,270

Actual Expenses$4,230

Planned Savings$730

Actual Savings$770

Annual Savings$9,240

5-Year Savings (5% return)$58,951

Try to save at least 20% of income (50/30/20 rule).

Keep 3–6 months of expenses in an emergency fund.

Enter your total monthly take-home pay (after all taxes and deductions). Include all income sources: salary, freelance, rental income, etc.

For each category, enter how much you plan to spend. We recommend the 50/30/20 rule: 50% for needs, 30% for wants, 20% for savings.

At month end, enter what you actually spent. Red cells show overspending. Adjust next month's budget accordingly.

50%

Needs (housing, food, utilities)

30%

Wants (dining, entertainment)

20%

Savings & debt repayment