50/30/20 Budget Calculator
Use this as a starting point and adjust to your personal financial situation.
The 50/30/20 rule is a budgeting method that allocates 50% of your income to necessities, 30% to wants, and 20% to savings. This calculator will help you visualize how your current spending aligns with this principle.
Step 1: Enter Your Monthly Income
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Please enter your monthly income to get started with your budget planning.
Budget Tips
- • Start by covering all your needs before allocating money to wants
- • Build an emergency fund with at least 3-6 months of essential expenses
- • Review your budget regularly and adjust as your income or expenses change
- • Consider using automated transfers to ensure you're saving consistently
- • Look for ways to reduce fixed expenses, which can have a bigger impact on your budget
This calculator is for educational purposes only. Always consult with a qualified investment professional before making financial decisions.