Budget Calculator
Plan your monthly budget with income and expense categories. See where your money goes and compare with the 50/30/20 rule.
Monthly Expenses
Housing (Rent/Mortgage)
Utilities
Groceries
Transportation
Insurance
Healthcare
Dining Out
Entertainment
Savings
Debt Payments
Other
Remaining
$1,200
of $5,000 income
Total Expenses
$3,800
% Spent
76%
Savings Rate
10%
Housing (Rent/Mortgage)$1,500 (39%)
Utilities$200 (5%)
Groceries$400 (11%)
Transportation$300 (8%)
Insurance$200 (5%)
Healthcare$100 (3%)
Dining Out$150 (4%)
Entertainment$100 (3%)
Savings$500 (13%)
Debt Payments$200 (5%)
Other$150 (4%)
50/30/20 Rule Targets
Needs (50%)$2,500
Wants (30%)$1,500
Savings (20%)$1,000
Frequently Asked Questions
What is the 50/30/20 budget rule?+
A simple budgeting guideline: 50% of after-tax income goes to needs (housing, food, utilities), 30% to wants (entertainment, dining out), and 20% to savings and debt repayment. It's a starting point — adjust to your situation.
How much should I spend on housing?+
The general rule is no more than 30% of gross income on housing. With a $5,000/month income, that's $1,500. In high-cost areas, people often spend more, but try to keep it under 35%.
How much should I save each month?+
Aim for at least 20% of income. Start with an emergency fund (3-6 months of expenses), then focus on retirement savings (15% of income) and other goals. Even 10% is better than nothing.