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50/30/20 Budget Calculator

50/30/20 Budget Calculator

How the 50/30/20 Budget Calculator Works

Our 50/30/20 calculator divides your take-home income, or the money that goes into your account after taxes, into suggested spending in three categories:

  • 50% of net pay for needs (housing, utilities, groceries, insurance, etc.).
  • 30% for wants (entertainment, dining out, vacations, hobbies, etc.).
  • 20% for savings and debt repayment (emergency fund, investments, loan payments, etc.).

For example, if you make $3,000 each month after taxes:

  • $1,500 should go toward necessities.
  • $900 for wants.
  • $600 for savings and debt paydown.

50/30/20 Budget Calculator

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