Budget Calculator
Plan your personal budget by tracking income, fixed expenses, variable expenses, and savings goals
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Fixed Expenses (Needs)
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Variable Expenses (Wants)
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Savings Goals
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Budget Summary
Total Income
$5,000
Needs (34%)
$1,700
Wants (15%)
$750
Savings (10%)
$500
Remaining
$2,050
Frequently Asked Questions
What is the 50/30/20 budget rule?
The 50/30/20 rule divides your after-tax income into three categories: 50% for needs (rent, food, utilities), 30% for wants (entertainment, dining out), and 20% for savings and debt repayment. This simple framework helps maintain balanced spending without tracking every dollar.
How much should I save each month?
Financial experts typically recommend saving at least 20% of your income. This includes retirement contributions, emergency fund building, and other savings goals. If 20% isn't feasible, start with what you can and gradually increase the percentage.
What counts as a fixed vs variable expense?
Fixed expenses are consistent month-to-month, like rent/mortgage, car payments, insurance premiums, and subscription services. Variable expenses change based on usage or behavior, like groceries, utilities, gas, dining out, and entertainment.