Budget Calculator
A monthly budget from your income and spending, with what is left over, your savings rate and a 50/30/20-style split.
Your budget
Filled in with example values. Replace them with your own.
Monthly spending
Target split
50% needs, 30% wants and 20% savings is a common rule of thumb, not a rule for everyone. Change it to suit you.
Currency symbol
Results update as you type.
Result
Income $3,500.00, spending $2,710.00, left over $790.00
Left over each month
$790.00
- Savings rateSavings items plus what is left
- 34%
- NeedsTarget 50%: $1,750.00
- $2,000.00 · 57.1%
- WantsTarget 30%: $1,050.00
- $310.00 · 8.9%
- SavingsTarget 20%: $700.00
- $1,190.00 · 34%
Where your income goes
- Needs
- $2,000.00
- Wants
- $310.00
- Savings
- $400.00
- Left over
- $790.00
- Income
- $3,500.00
How the budget calculator works
Enter your monthly take-home income and list what you spend, marking each item as a need, a want or savings. The calculator shows what is left over, your savings rate, and how your spending compares with a target split.
The formulas
Left over = Income − Total spending
Savings rate = (Savings items + Left over) ÷ Income
Target amount = Income × Target %
Worked example
Income of 4,000 a month; rent 2,000 and groceries 300 (needs), eating out 600 (wants), 400 into a pension (savings):
- Spending: 3,300, so 700 is left over
- Needs take 57.5% against a 50% target; wants 15% against 30%
- Savings rate: (400 + 700) ÷ 4,000 = 27.5%
Frequently asked questions
What is the 50/30/20 rule?
A simple way to split take-home pay: about half on needs, 30% on wants and 20% on savings or paying off debt. It is a rule of thumb, not a target that suits everyone; for some households, needs simply take more. Change the split to whatever fits you.
What counts as a need and what as a want?
Needs are what you must pay to live and work: rent or mortgage, utilities, groceries, insurance, minimum debt payments, transport to work. Wants are the rest you could cut back: eating out, entertainment, holidays, most subscriptions.
Why is money left over counted as savings?
Money you do not spend stays with you, so the savings figure includes it along with anything you put into savings on purpose. If you plan to spend it, add it as a line.
Should I use income before or after tax?
After tax: the money that actually reaches you each month. That is what you can spend or save.