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?

  • 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 view

50/30/20 breakdown

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

Needs

€1,000.00

Wants

€600.00

Savings

€400.00

Frequently asked questions

    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

    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)

    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.

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