Budget Calculator
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Monthly 50/30/20 Budget Calculator
Enter your monthly after-tax income into this free budget calculator to create a suggested budget.
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50% OF YOUR INCOME
needs
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30% OF YOUR INCOME
wants
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20% OF YOUR INCOME
savings & debts
This figure is your income after taxes have been deducted. It's likely you'll have additional payroll deductions for things like health insurance, 401(k) contributions or other automatic payments taken from your salary. Don't subtract those from your gross (before tax) income. If you've lumped them in with your taxes, you'll want to separate them out — subtract only taxes from your gross income.
Ref: https://www.nerdwallet.com/article/finance/nerdwallet-budget-calculator
