50/30/20 Budget Planner
50/30/20 Budget Planner
The 50/30/20 budgeting approach offers a straightforward way to divide your income into three distinct categories: wants, needs, and savings. With predefined percentages for each category, this method eliminates the uncertainty surrounding your spending decisions.
To get a clear picture of how your 50/30/20 budget should be structured, simply input your monthly post-tax income into our complimentary budget calculator. This tool will help you visualize your financial allocation effortlessly.
Now that you know what the 50/30/20 rule is, we can discuss an example. Suppose your monthly after-tax income is ${{ formatNumber(salary) }} Now that you know what the 50/30/20 rule is, we can discuss an example. Suppose your monthly after-tax income is
-
50% of {{ salary }} to your necessities, which is
( {{ salary }} × 50) / 100 = ${{ formatNumber(T50) }} -
30% of $ {{ salary }} to your wants, which is
( {{ salary }} × 30) / 100 = ${{ formatNumber(T30) }} -
20% of $ {{ salary }} to your savings, which is
( {{ salary }} × 20) / 100 = ${{ formatNumber(T20) }}