50/30/20 budget worksheet
Split your income into needs, wants and savings.
The 50/30/20 rule is an easy way to start budgeting: about half of your take-home pay goes to needs, 30% to wants and 20% to savings and extra debt payments. It gives you a target without tracking every category.
This worksheet does the math with you. Write your take-home pay, work out the three targets, then list what goes in each column and see how close you are.
How it works
Take your monthly take-home pay and split it: 50% for needs, 30% for wants and 20% for savings and extra debt payments. Then list what goes into each column and compare the totals with the targets.
| Take-home pay | Needs 50% | Wants 30% | Savings 20% |
|---|---|---|---|
| $2,500 | $1,250 | $750 | $500 |
| $3,000 | $1,500 | $900 | $600 |
| $4,000 | $2,000 | $1,200 | $800 |
| $5,000 | $2,500 | $1,500 | $1,000 |
How to use it
- Write your monthly take-home pay and work out 50%, 30% and 20% of it.
- List your needs, wants and savings in the three columns.
- Compare each column’s total with its target and adjust.
Ways to use it
- High cost of living? Try 60/20/20 and adjust over time.
- Paying off debt? Put extra payments in the 20% column.
- Use it once to set targets, then a monthly budget to track.
Tips
- Needs are what you must pay: housing, utilities, groceries, insurance, minimum debt payments.
- If needs are over 50%, that is common. Treat the split as a direction to move in, not a test.
Questions
What is the 50/30/20 rule?
A simple budgeting guideline: about 50% of take-home pay for needs, 30% for wants, and 20% for savings and extra debt payments.
Is the 50/30/20 rule realistic?
For many people, needs take more than 50%, especially rent. Treat it as a direction to move in rather than a test.
Is 50/30/20 based on gross or net income?
It is usually based on take-home pay: what lands in your account after taxes and deductions.
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This printable is a general planning tool, not financial advice. Read the full disclaimer.