Paycheck Budget Calculator
Budget your paycheck using the 50/30/20 rule.
See how much to spend on needs, wants, and savings from your take-home pay.
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Your Budget Breakdown
The 50/30/20 rule is a simple budgeting guideline created by Senator Elizabeth Warren.
How it works:
Needs (50%) = Take-Home Pay × 0.50
Wants (30%) = Take-Home Pay × 0.30
Savings (20%) = Take-Home Pay × 0.20
What counts as “Needs” (50%):
- Rent or mortgage
- Utilities (electricity, water, gas)
- Groceries
- Insurance (health, car)
- Minimum debt payments
- Transportation to work
What counts as “Wants” (30%):
- Dining out and entertainment
- Subscriptions (streaming, gym)
- Shopping and hobbies
- Vacations
What counts as “Savings” (20%):
- Emergency fund contributions
- Retirement savings (above employer match)
- Extra debt payments
- Investments
Adjust as needed:
- High cost-of-living areas may require 60/20/20
- If paying off debt aggressively, try 50/20/30 (more to savings/debt)