Create a personal budget using the 50/30/20 rule. Track income vs. expenses and find where to cut spending to meet your financial goals.
Monthly Budget
Enter your income and expenses
💵 Income
$
$
🏠 Needs (Fixed)
$
$
$
$
$
$
🎭 Wants (Variable)
$
$
$
$
💰 Savings / Investments
$
$
Monthly Surplus/Deficit
$—
vs. income
Total Expenses
$—
Total Income
—
Needs
—
Wants
—
Savings
—
50/30/20 Budget Analysis
Monthly Income
—
Total Needs
—
Total Wants
—
Total Savings
—
Total Expenses
—
Surplus / Deficit
—
FAQ
What is the 50/30/20 rule?
Senator Elizabeth Warren popularized the 50/30/20 rule: 50% of after-tax income for Needs (housing, food, transport), 30% for Wants (entertainment, dining), and 20% for Savings and debt repayment.
How do I handle irregular expenses?
Tally up annual irregular expenses (car maintenance, medical, holiday gifts) and divide by 12. Add this to your monthly budget as a "sinking fund" to avoid financial surprises.
What expenses are "wants" vs "needs"?
Needs are essential for survival and work: rent, utilities, basic groceries, minimum debt payments, and transportation to work. Wants are everything else: dining out, streaming, vacations, designer clothes.