50/30/20 Budget Calculator

Allocate Your Net Income to Needs, Wants, and Savings Targets

Last updated: August 2026

Budget Targets

Needs Target (50%)
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Wants Target (30%)
$0.00
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Savings Target (20%)
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The 50/30/20 budgeting rule is an intuitive, balanced framework popularized by Senator Elizabeth Warren in her book *All Your Worth*. It allows you to build a healthy balance between paying for essentials, enjoying your lifestyle, and securing your financial future.

The Three Budget Buckets

  • Needs (50%): Crucial bills you must pay to survive. Examples: Rent/mortgage, utilities, car payments, insurance, groceries, minimum debt payments.
  • Wants (30%): Discretionary spending on things you choose to buy but don't strictly need. Examples: Dining out, subscriptions, trips, gym memberships, entertainment.
  • Savings & Extra Debt Paydown (20%): Investments to build wealth or pay off debt faster. Examples: 401(k) / Roth IRA contributions, emergency fund, additional principal payments on credit cards or loans.