Budget Calculator

Get your 50/30/20 budget and then personalize it to your priorities and situation

The 50/30/20 approach can be a helpful way to get started with budgeting. It’s a simple rule of thumb that suggests you put up to 50% of your after-tax income toward things you need, 30% toward things you want, and 20% toward savings.

50% Needs

Things you must have or can't live without.

Examples: housing, groceries, utilities, transportation, child care, debt payments

30% Wants

Things you can cut back on or do without.

Examples: entertainment, dining out, clothing, splurges

20% Savings

Money you save for future goals.

Examples: emergency fund, home, vacation, retirement, financial freedom

Enter your income to get your 50/30/20 budget

How often do you receive your income?

What is your after-tax income?

Personalize your monthly budget

Personalize Your Monthly Budget If you’re like most people, you don’t know exactly how much money you have coming in and going out each month. That’s why creating a budget can be so valuable. A good way to get started is to collect your recent pay stubs, bills and financial statements (e.g. credit card, checking account, retirement plan and other saving accounts). Don’t have this information at your finger tips? Take a first pass at creating your budget with some rough estimates of your income, spending and saving. And then come back to refine your budget after you collect your information. If you save for retirement by having money deducted from your paycheck, go ahead and include those savings in your budget - just remember to add the amount to your income. For example, if your income is $2,000 a month and your paycheck deduction for retirement savings is $200, enter $2,200 into the income field.

Needs

Housing

Utilities

Groceries

Transportation

Childcare

Healthcare

Student Loan Payments

Other Debt Payments

Wants

Entertainment

Dining Out

Hobbies

Splurges

Savings

Emergency Fund

Retirement

Vacation / Travel

Let's get budgeting!

My 50/30/20 Monthly Budget

Needs 50% $0

Wants 30% $0

Savings 20% $0

Values are based on a monthly budget.

Congratulations, you're off to a great start!

Your 50/30/20 budget is a simple rule of thumb that can be a helpful way to get started with budgeting.

Take the next step and personalize your budget based on your priorities and financial situation.

Good Job!

You have an extra $0. Consider putting it toward savings or paying down any debt you have.

Good Job!

Good job creating a balanced budget! Now is a good time to look at how you're allocating your income across your NEEDS, WANTS, and SAVINGS.

Uh Oh!

Your monthly budget exceeds your income by $0. When looking for ways to reduce your spending, your WANTS is a good place to start.

Monthly Budget

Income $0

Allocated $0

Remaining $0

	50/30/20	My Budget	Difference
Needs	$0	$0	$0
Wants	$0	$0	$0
Savings	$0	$0	$0

Needs

50/30/20	$0
My Budget	$0
Difference	$0

Wants

50/30/20	$0
My Budget	$0
Difference	$0

Savings

50/30/20	$0
My Budget	$0
Difference	$0

Next Steps

Get a copy of your budget or share it with your financial professional

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The Budget Calculator is an interactive, online experience to help you create a monthly budget. The analysis in this experience is based on the information provided by you. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. IMPORTANT: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.

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