A budget only works if it is simple enough to stick to. The 50/30/20 rule is the easiest place to start: split your monthly take-home pay into 50% for needs, 30% for wants and 20% for savings. Enter your income below and the planner does the maths.
The 50/30/20 rule splits your income into needs, wants and savings. Type your monthly pay to see the split.
Rent or mortgage, utilities, groceries, transport, insurance, minimum debt payments.
Dining out, subscriptions, hobbies, travel and the nice-to-haves.
Emergency fund, retirement, investments and extra debt payoff.
This is a starting guideline, not personalised financial advice. High-cost-of-living areas often need more than 50% for essentials — adjust the split to fit your reality.
How the 50/30/20 rule works
50% needs covers the essentials you cannot skip — housing, utilities, groceries, transport, insurance and minimum debt payments. 30% wants is everything that makes life enjoyable but is optional: eating out, subscriptions, hobbies and travel. 20% savings goes to an emergency fund, retirement, investments and paying down debt faster.
Treat the numbers as a target, not a straitjacket. If you live somewhere expensive, essentials may take more than half your pay — the goal is simply to see where your money goes and to keep savings a fixed, non-negotiable slice.