Automatically allocate your income into needs, wants, and savings with the proven 50/30/20 budgeting method.
The 50/30/20 rule is a simple, effective budgeting method where you allocate 50% of your income to needs, 30% to wants, and 20% to savings and debt repayment.
Essential expenses: housing, utilities, groceries, insurance, minimum debt payments
Discretionary spending: dining out, entertainment, hobbies, subscriptions
Financial goals: emergency fund, retirement, investments, extra debt payments
Enter your monthly income to automatically calculate your ideal budget allocation
This is your net income after taxes and deductions
Side hustles, freelance work, rental income, etc.
Based on your monthly income of $4,000
Essential monthly expenses
Discretionary spending
Financial goals & debt payoff
Recommended: 25-30% of needs
Electricity, water, internet, phone
Food, household supplies, toiletries
Health, auto, home insurance
Gas, public transit, car maintenance
Restaurants, movies, concerts
Clothing, electronics, personal care
Streaming services, gym, hobbies
Set aside for trips and getaways
Build 3-6 months of expenses
401(k), IRA, other retirement accounts
Extra payments on loans and credit cards
House down payment, education, etc.
Total Monthly Income: $4,000
Monthly Needs Budget: $2,000
Monthly Wants Budget: $1,200
Monthly Savings Budget: $800
Housing: __________ / $1,000
Utilities: __________ / $300
Groceries: __________ / $400
Insurance: __________ / $200
Transportation: __________ / $100
Dining Out: __________ / $400
Shopping: __________ / $300
Hobbies: __________ / $300
Travel: __________ / $200
Emergency Fund: __________ / $200
Retirement: __________ / $300
Debt Paydown: __________ / $200
Other Goals: __________ / $100