How this calculator works
Enter your monthly take-home pay. The calculator applies the 50/30/20 rule — 50% needs, 30% wants, 20% savings and extra debt payments — and lets you adjust the percentages to your situation.
What counts as a need?
Needs are costs you must pay to live and work: housing, utilities, groceries, insurance, transport and minimum debt payments. Wants are everything optional. Savings includes your emergency fund, retirement and investments, and any debt payments above the minimum.
Frequently asked questions
Is 50/30/20 realistic in an expensive city?
Often needs exceed 50%. Shift from wants first and protect savings.
Should I use gross or net income?
Net (take-home) income.
Where should savings go first?
A starter emergency fund, then high-interest debt, then retirement and long-term investing.
Results are estimates for educational purposes and depend on the assumptions you enter. They are not an offer of credit or financial advice. Last reviewed October 2026.