💰 50 / 30 / 20 Budget Calculator

50/30/20 Budget Calculator
for Australia and the US

Your Money. Your Rules.

Track where every dollar goes using the proven 50/30/20 framework. Works for Australian and US incomes, updated in real-time as you type.

50% Needs
30% Wants
20% Savings
AU & US

Your Income

Gross Income
A$
Period
After-Tax Monthly Income
A$

50 / 30 / 20 Breakdown

60%
19%
30%
Needs (50%)
A$3,400
Target: A$2,853/mo
✗ Over budget
Wants (30%)
A$1,070
Target: A$1,712/mo
✓ On track
Savings (20%)
A$1,700
Target: A$1,141/mo
✗ Over budget

🏠 Needs

Essential expenses · converts to monthly
Rent / Mortgage
A$
Groceries / Food
A$
Utilities
A$
Transport / Car
A$
Insurance
A$
Private Health (AU)
A$
Minimum Debt Payments
A$
Total Needs / monthentered monthly
A$3,400

🎉 Wants

Lifestyle expenses · converts to monthly
Dining Out / Takeaway
A$
Entertainment
A$
Streaming & Subscriptions
A$
Clothing & Shopping
A$
Gym & Fitness
A$
Hobbies
A$
Travel & Holidays
A$
Total Wants / monthentered monthly
A$1,070

💚 Savings

Future money · converts to monthly
Superannuation (AU)
A$
Emergency Fund
A$
Savings Account
A$
Investments / Shares
A$
Home Deposit / Goal
A$
Extra Mortgage Repay
A$
Total Savings / monthentered monthly
A$1,700

Monthly Summary

A$5,707
Monthly Income
A$6,170
Total Expenses
-A$463
Unallocated
29.8%
Savings Rate
NeedsA$3,400 / A$2,853 (119%)
WantsA$1,070 / A$1,712 (62%)
SavingsA$1,700 / A$1,141 (149%)
💡 Budget Insights
Your needs (60%) are over the 50% target. Consider reviewing rent or transport costs.
Great work — your savings rate of 29.8% meets the 20% target. You're building wealth.
You're overspending by A$463/month. Review your wants and needs to find savings.
Remember: your employer pays A$863 in super contributions each month on top of your take-home pay.

Savings Goals

Based on your current savings rate, here's when you'll hit your goals.

Home Deposit
Target amount:
Saving A$1,700/mo → done in 4yrs 11mo
Travel Fund
Target amount:
Saving A$1,700/mo → done in 6 months
Emergency Fund
Target amount:
Saving A$1,700/mo → done in 1yr
Custom Goal
Target amount:
Saving A$1,700/mo → done in 2yrs 6mo

The 50/30/20 Rule Explained

The 50/30/20 budget rule is one of the most practical personal finance frameworks ever devised. It was popularised by US Senator Elizabeth Warren in her book All Your Worth (2005) and has been adopted by financial advisers across Australia and the US as a starting point for healthy money management.

🏠
50% — Needs

Essential Expenses

Half your after-tax income should cover the things you can't reasonably live without — rent or mortgage, groceries, utilities, transport, minimum debt repayments, and health insurance. In high cost-of-living Australian cities like Sydney and Melbourne, keeping needs under 50% is a genuine challenge. If you're over, it's a signal to look at your rent, car costs, or debt load rather than cutting discretionary spending.

🎉
30% — Wants

Lifestyle Spending

Thirty percent goes to the things that improve your life but aren't strictly necessary — dining out, streaming services, gym memberships, clothing beyond basics, hobbies, and holidays. This isn't "fun money" you feel guilty about; it's a planned, intentional part of your budget. The 30% bucket stops lifestyle creep from eating into your savings without being so restrictive that you burn out and abandon the budget entirely.

💚
20% — Savings

Future Security

Twenty percent of your after-tax income builds your financial future. This includes emergency fund contributions, superannuation top-ups, investment accounts, savings goals, and extra mortgage repayments. For Australians, your employer already contributes 11.5% of your gross salary to superannuation — so you may already be closer to this target than you think. The 20% rule counts voluntary savings on top of compulsory super.

Frequently Asked Questions

Budgeting questions answered for Australian and US readers.

About BudgetWise

BudgetWise was built because most budget calculators are either too simple (just a spreadsheet) or too complicated (overwhelming finance apps that require bank account access). We wanted something in between — a genuinely useful, beautiful tool that works for real Australians and Americans, with no sign-up, no data collection, and no ads.

The 50/30/20 framework is a starting point, not a rigid rule. We've built in the flexibility to use weekly, fortnightly, or monthly figures for each expense category — because that's how Australians actually get paid and pay bills.

All calculations happen entirely in your browser. We never see, store, or transmit your financial information. This tool is completely free to use, forever.

Contact
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