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.

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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

Your Summary

Monthly viewAnnual view

50/30/20 breakdown

This is how you should be budgeting your income based on the 50/30/20 rule.

Needs
€0.00

Wants
€0.00

Savings
€0.00

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
  • Transportation
  • Insurance (healthcare, car, or pets)
  • Groceries

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
  • Shopping
  • Holidays
  • 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

Pie Chart.

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.

Piggy bank to symbolize budgeting tips (how to save money).

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.

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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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