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Budget Planner: 50/30/20 Rule

Split your take-home pay into needs, wants, and savings, then plan what goes to each category.

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Plan your categories

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Saved in this browser only. Rename, add, or remove categories to fit your life.

About the Budget Planner

The budget planner splits your take-home pay into needs, wants, and savings. Start with the 50/30/20 rule, pick another split, or set your own. Then enter what you plan to spend in each category to see where you are over or under. Your categories are saved in this browser only.

How to use it

  1. 1 Enter your take-home pay and how often you get it.
  2. 2 Pick a rule (50/30/20 is the usual starting point) or type your own percentages.
  3. 3 Fill in the amount for each category, and rename, add, or remove categories to match your life.
  4. 4 Check the bars: red means a group is over its target. Copy the share link to send the split to someone.

Frequently asked questions

What is the 50/30/20 rule?

It splits your take-home pay three ways: 50% for needs (rent, groceries, bills, transport, minimum loan payments), 30% for wants (eating out, shopping, hobbies, subscriptions), and 20% for savings and paying off debt faster. It was made popular by Elizabeth Warren’s book “All Your Worth”.

Should I use my gross or net income?

Use your take-home (net) pay, after tax and other deductions. If money for a pension or retirement plan is already taken from your salary, you can count it toward the 20% savings.

What if my needs are more than 50%?

That is common where rent is high. Try 60/20/20 or 70/20/10, which keep some savings while giving needs more room, and look for the biggest need you can lower over time, such as rent, transport, or a loan.

What is the difference between needs and wants?

A need is something you must pay to live and work: housing, basic food, utilities, getting to work, insurance, and minimum debt payments. A want is anything you could cut without real harm, such as restaurants, new clothes, streaming, or holidays. A basic phone plan is a need; the newest phone is a want.

Where do debt payments go?

The minimum payment on a loan or credit card is a need. Anything you pay above the minimum to clear the debt sooner goes in savings & debt, because it improves your finances the same way saving does.

Is my budget stored anywhere?

Your categories and amounts are saved only in this browser, so they are there next time you visit on this device. Nothing is sent to our server. The share link carries only your income and split, not your categories.