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?
- 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.
Frequently asked questions
- Monthly rent
- Electricity and gas bills
- Transportation
- Insurance (healthcare, car, or pets)
- Groceries
- Dining out
- Shopping
- Holidays
- Gym memberships
- Entertainment subscriptions (Netflix, HBO, Spotify)
- Groceries (other than the essentials)
- Money for emergency expenses
- Retirement investments
- Long-term personal financial plans
- A down payment on real estate
- Investments in your education
Needs are expenses that you can’t avoid—payments for all the essentials that would be difficult to live without. For instance:
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:
Savings are put aside towards your financial goals or used to pay back any outstanding debt. For instance: