50/30/20 Budget Calculator
The 50/30/20 rule is a simple budgeting framework: 50% for needs, 30% for wants, and 20% for savings.
Your Income
$
Current Spending
$
Essential expenses you can't avoid
$
Non-essential expenses for enjoyment
$
Emergency fund, investments, extra debt payments
Recommended Budget
Needs (50%)
$300 over
$2,500
Wants (30%)
On target!
$1,500
Savings (20%)
$300 under
$1,000
Your Current Split
Needs: 56%Wants: 30%Savings: 14%
Ideal split: 50% / 30% / 20%
What Counts as Needs vs Wants?
Needs (50%)
- • Rent/Mortgage
- • Utilities
- • Groceries
- • Health Insurance
- • Car Payment
- • Minimum Debt Payments
Wants (30%)
- • Dining Out
- • Entertainment
- • Shopping
- • Subscriptions
- • Travel
- • Hobbies
Savings (20%)
- • Emergency Fund
- • Retirement (401k, IRA)
- • Extra Debt Payments
- • Investments
- • Saving for Goals
Automatically Categorize Your Spending
Upload your bank statements and Adphex will automatically sort your transactions into needs, wants, and savings categories.