A monthly budget planner built on the 50/30/20 rule
This budget planner is a 50/30/20 budget calculator and a simple monthly budget in one. Enter your take-home pay and it shows how much the rule suggests for needs (50%), wants (30%) and savings and debt payoff (20%). Then list what you actually spend in each category, and it shows where you are over, where you have room and how much of your pay still has no job.
It works in dollars, pounds, rupees, euros and other currencies, so it suits a budget calculator based on income in the US, the UK or India alike. Everything stays in your browser; nothing is uploaded, and the plan is saved on your device only if you tick the box. It is a planning aid, not financial advice.
How to use the Budget Planner (50/30/20 Budget Calculator)
- Enter your take-home pay — what reaches your bank account after tax and deductions — and how often you are paid.
- Pick a budget rule: 50/30/20, 60/20/20, 70/20/10 or your own percentages.
- Go through the categories: change names and amounts, mark each as a need, a want or a saving, add your own and remove the ones you do not use.
- Read the hero figure (money still to assign, or how far over you are), the table of targets and gaps and the tips.
- Print the plan, download it as CSV for a spreadsheet, or copy a summary.
Budget Planner (50/30/20 Budget Calculator) features
Targets from your income
The three targets are worked out from your monthly take-home pay; weekly, fortnightly, twice-monthly and yearly pay is converted first.
Your own categories
Fourteen common categories to start from, each one editable, plus as many of your own as you need.
Gap at a glance
Each bucket shows its target, your plan, its share of pay and how far over or under it is.
Printable plan
Print a clean one-page plan grouped by needs, wants and savings, or download a CSV with monthly and yearly figures.
Private
No account and no upload. An optional tick box keeps the plan in this browser for next time.
How the 50/30/20 rule works
The rule was popularised by Elizabeth Warren and Amelia Warren Tyagi in All Your Worth (2005). Take your after-tax income and aim to spend no more than half on needs — things you must pay whatever happens: housing, utilities, basic groceries, transport to work, insurance and the minimum payments on debts. Up to 30% goes on wants: eating out, streaming, shopping, hobbies and holidays. At least 20% goes to savings and paying off debt faster: an emergency fund, retirement contributions and anything above the minimum on loans and cards.
Worked example: take-home pay of $4,000 a month gives targets of $2,000 for needs, $1,200 for wants and $800 for savings. The example plan spends $2,330 on needs ($330 over), $720 on wants ($480 under) and saves $800, leaving $150 unassigned. On ₹80,000 a month the same rule gives ₹40,000, ₹24,000 and ₹16,000.
Which rule suits you
If needs alone are above 60% of your pay, the percentages matter less than the big three costs: housing, transport and debt. The rent affordability calculator and credit card payoff calculator help with those.
| Rule | Needs | Wants | Savings | Good for |
|---|---|---|---|---|
| 50/30/20 | 50% | 30% | 20% | A balanced default |
| 60/20/20 | 60% | 20% | 20% | High rent cities (London, Mumbai, New York) where needs cannot fit in half |
| 70/20/10 | 70% | 20% | 10% | Low incomes or a temporary squeeze |
| Custom | any | any | any | Aggressive saving, e.g. 50/15/35 for an early-retirement goal |
Tips for a budget that lasts
- Use take-home pay, not gross salary. In India the in-hand salary calculator and in the US the paycheck calculator work it out.
- Spread yearly bills (insurance, school fees, festivals, car tax) over twelve months and budget the monthly share.
- Pay savings first, on payday, by standing order — then spend what is left.
- Review the plan once a month against your bank statement and move money between categories rather than abandoning the plan.
- Track progress towards a target with the savings goal calculator.
Budget Planner (50/30/20 Budget Calculator) FAQ
How do I use a budget calculator based on income?
Enter your monthly take-home pay. The planner multiplies it by the rule’s percentages to give a target for needs, wants and savings, then compares those targets with the categories you enter.
What counts as a need and what is a want?
A need is something you must pay to live and work: rent or mortgage, utilities, basic food, transport, insurance and minimum debt payments. Anything you could cut for a month without real harm — takeaways, subscriptions, new clothes, holidays — is a want.
Does the 50/30/20 budget calculator work in India?
Yes. Choose Indian rupees; amounts use lakh grouping. Many Indian households count EMIs on home loans as needs and SIPs, PPF, EPF top-ups or NPS as savings.
Are debt repayments savings or needs?
Minimum payments are needs. Anything above the minimum is counted with savings, because it improves your net worth the same way.
Should I use gross or net income?
Net (take-home) pay. Tax and payroll deductions come off before the rule is applied; pension contributions taken from your pay can count towards the 20% if you want.
Is my budget stored anywhere?
Only if you tick “Remember this plan on this device”; it is then kept in your browser’s local storage. Untick it to remove it.