Finance

50/30/20 Budget Calculator

Split income into needs, wants and savings.

Calculated Output

Needs (50%) ($) 2,000

Wants (30%) ($) 1,200

Savings (20%) ($) 800

Formula: needs 50%, wants 30%, savings 20%

Step-by-Step Breakdown

1. Values used:

2. Monthly after-tax income = 4,000 $

4. Needs (50%) = 2,000$

5. Wants (30%) = 1,200$

6. Savings (20%) = 800$

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The math behind it

needs = income × 0.5; wants = × 0.3; savings = × 0.2 (after-tax income).

$4,000 → $2,000 / $1,200 / $800.

Strict rule?

It's a guideline — adjust to your situation.