Household Budget Calculator
Add up your monthly household income and spending by category, see what is left over, and compare your needs, wants and savings with the 50/30/20 rule.
A household budget is a monthly plan for every dollar of take-home pay. Enter what comes in and what goes out by category, and this calculator shows how much is left over, what you spend in a year, and how your split between needs, wants and savings compares with the popular 50/30/20 guideline.
How to use this tool
- Enter your monthly take-home income after tax and payroll deductions.
- Fill in each spending category; leave a field at 0 if it does not apply.
- Enter what you put toward savings, investing and extra debt payments.
- Check the money left over and the 50/30/20 comparison table.
Formula
Left over = income − needs − wants − savings
Share = category ÷ income × 100
Needs are housing, utilities, groceries, transport, insurance, healthcare, childcare and minimum debt payments. Wants are dining out, entertainment, shopping and other spending. Savings includes retirement and emergency fund contributions plus anything paid above the minimum on debts.
Example
With $6,000 take-home and the default figures, needs come to $3,750 (62.5%), wants to $850 (14.2%) and savings to $700 (11.7%). Total spending is $4,600 a month, or $55,200 a year, leaving $700 unassigned. Moving that $700 into savings would lift the savings share to 23.3%, above the 20% guideline.
Frequently asked questions
What is the 50/30/20 rule?
A simple guideline from the book All Your Worth by Elizabeth Warren and Amelia Warren Tyagi: spend about 50% of after-tax income on needs, 30% on wants and put 20% toward savings and debt payoff.
My needs are above 50% — is that a problem?
Not necessarily. In high-rent cities needs can easily take 60% or more. It is a signal to protect your savings share, and to check whether housing or transport costs can come down over time.
Should irregular costs be included?
Yes. Divide yearly bills such as car registration, gifts or insurance premiums by 12 and add them to the matching category so the monthly plan is realistic.
Last updated: 2026-10-30