50/30/20 Budget

The 50/30/20 Budget Calculator applies the popular budgeting framework popularized by Senator Elizabeth Warren: allocate 50% of after-tax income to needs, 30% to wants, and 20% to savings and debt repayment. Enter your monthly after-tax income and optionally your actual spending in each category. The calculator shows the recommended dollar amounts per category and compares them against your actuals to identify where you are over or under the guideline. This framework is a starting point, not a rigid rule. High-cost-of-living areas may require 60% for needs, while aggressive savers targeting FIRE might allocate 40%+ to savings. The calculator helps you establish a baseline budget that you can then customize to your situation.