Budget Calculator
Plan your monthly budget using the 50/30/20 rule. Enter your income and expenses to see your savings rate and where your money goes.
Monthly Budget
🏠 Needs (target 50% = ₹40,000)
🎉 Wants (target 30% = ₹24,000)
💰 Savings (target 20% = ₹16,000)
Savings Rate
35.0%
Total expenses: ₹67,600 of ₹80,000
Needs
₹38,000 (48%)
Wants
₹14,000 (18%)
Savings
₹15,600 (20%)
How It Works
Enter your monthly take-home income and categorise your expenses into Needs (rent, groceries, utilities, EMIs), Wants (dining, entertainment, shopping), and Savings/Investments. The calculator shows your actual spending vs the 50/30/20 benchmark, your savings rate, and monthly surplus or deficit.
Formula
50/30/20 Rule: 50% Needs + 30% Wants + 20% Savings = 100% of take-home income; Savings Rate = (Income − Expenses) / Income × 100
Frequently Asked Questions
What is the 50/30/20 budgeting rule?
The 50/30/20 rule allocates your after-tax income as: 50% to Needs (rent, food, utilities, minimum EMIs), 30% to Wants (dining out, subscriptions, hobbies), and 20% to Savings and investments. It's a simple framework — adjust the percentages to match your goals.
What counts as a 'Need' vs a 'Want'?
Needs are essentials you cannot cut: rent/home loan EMI, groceries, electricity, transport to work, health insurance, and minimum debt payments. Wants are lifestyle choices you could reduce: restaurant meals, streaming services, new clothes, vacations.
What is a good savings rate?
Financial planners recommend saving at least 20% of take-home income. For early retirement or aggressive goals, aim for 30–40%. Even 10% is better than nothing — the key is consistency and increasing the rate as income grows.
How do I handle irregular income in a budget?
Use your average monthly income over the last 3–6 months as the base. Budget conservatively (use the lower end). When a high-income month arrives, direct the surplus to an emergency fund or investments rather than lifestyle inflation.