50 30 20 Budget Calculator
Easily split your income into needs, wants, and savings with our 50/30/20 Budgeting Calculator—and start taking steps towards financial freedom.
How to use the 50/30/20 calculator?
This is how:
- Enter estimated amounts in all of the "Income" fields that apply to you or your family.
- Calculate your after-tax income.
- Be sure to round up to the nearest euro—don’t use commas or periods.
Your Monthly income after taxes
This is how you should be budgeting your income based on the 50/30/20 rule.
Frequently asked questions
What are Needs?
Needs are expenses that you can’t avoid—payments for all the essentials that would be difficult to live without. For instance:
- Monthly rent
- Electricity and gas bills
- Insurance (healthcare, car, or pets)
What are Wants?
Wants are defined as non-essential expenses—things that you choose to spend your money on, although you could live without them if you had to. For instance:
- Dining out
- Gym memberships
- Entertainment subscriptions (Netflix, HBO, Spotify)
- Groceries (other than the essentials)
What are Savings?
Savings are put aside towards your financial goals or used to pay back any outstanding debt. For instance:
- Money for emergency expenses
- Retirement investments
- Long-term personal financial plans
- A down payment on real estate
- Investments in your education
Learn more about budgeting
The 50/30/20 rule: how to budget your money more efficiently
The 50/30/20 budget is beautiful in its simplicity. It can help you divide your income into categories that make saving easy.
5 smart budgeting tips for first-time savers
Budgeting doesn’t need to be stressful or confusing. These simple budgeting tips show you how you can start saving today.
Personal financial planning—tips on setting yourself up for the future
The best way to safeguard your future? Start personal financial planning today. Read on to learn how.
Find a plan for you
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