Budget Boss applies the 50/30/20 rule — the most widely recommended personal budgeting framework — to your monthly take-home income. Enter one number, get an instant breakdown.
Type your net monthly income — that's your take-home pay after taxes, not your gross salary. This is the amount you actually have to allocate.
50% goes to needs (rent, groceries, utilities, insurance, minimum debt payments). 30% goes to wants (dining out, entertainment, subscriptions, hobbies). 20% goes to savings and debt repayment.
The calculator instantly shows dollar amounts for each category. You'll see exactly how much per month should go toward needs, wants, and saving.
The 50/30/20 rule is a guideline, not a rule. If your needs exceed 50%, the savings percentage may need to flex. The breakdown is a starting point for a conversation with your actual spending.
The 50/30/20 framework was popularized by Senator Elizabeth Warren and her daughter Amelia Warren Tyagi in their book 'All Your Worth' (2005). It has since become one of the most widely taught personal finance frameworks.
Needs are expenses required to live and maintain employment: housing, utilities, groceries, transportation to work, minimum debt payments, and basic insurance. Streaming services, gym memberships, and restaurant meals are wants — nice to have, but not essential.
Even saving 5–10% consistently is better than nothing. The key is to automate savings by transferring money the moment your paycheck arrives, before you have a chance to spend it.
Net (take-home) income. Since taxes are already deducted before you receive your paycheck, budgeting on net income gives you a realistic picture of what you actually have to work with.