50/30/20 Budget Calculator

↻ Updated 2026

Enter your monthly after-tax income to see the 50/30/20 breakdown — 50% needs, 30% wants, 20% savings — and compare it against what you actually spend.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Monthly after-tax income

Your actual spending (optional)

Needs — rent, food, utilities

Wants — dining, travel, fun

Savings & debt payoff

Needs — 50%

$2,500

essentials budget

Wants — 30%

$1,500

lifestyle budget

Savings — 20%

$1,000

save & pay down debt

Your budget split

Needs (50%)$2,500

Wants (30%)$1,500

Savings / debt (20%)$1,000

Target vs. your actual spending

Needs — target $2,500$2,600 (+$100)

Wants — target $1,500$1,300 (-$200)

Savings / debt — target $1,000$900 (-$100)

Unallocated / leftover$200

ASSUMPTIONS — The 50/30/20 rule is a starting framework, not a hard rule — high cost-of-living areas like Toronto or Vancouver often push needs above 50%. Percentages apply to after-tax (take-home) income. Direct the 20% savings slice into a TFSA, RRSP, or high-interest savings account.

Runs entirely in your browser — nothing you enter is sent to us.How this works

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Sources & rate references

·Standard amortization / compound-interest formulas

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.