Enter your income and expenses to see how your spending compares to the 50/30/20 guideline. Get personalized recommendations to improve your financial health.
Half your after-tax income goes to essentials: housing, groceries, utilities, insurance, minimum debt payments, and transportation. These are expenses you cannot easily eliminate.
Up to 30% goes to lifestyle choices: dining out, entertainment, subscriptions, shopping, hobbies, and vacations. These are things you enjoy but could live without if necessary.
At least 20% should go toward financial goals: emergency fund, retirement contributions, extra debt payments beyond minimums, and investing. This is how you build long-term wealth.
The 50/30/20 rule was popularized by Senator Elizabeth Warren in her book All Your Worth: The Ultimate Lifetime Money Plan. It works because it is simple enough to follow consistently while being flexible enough to adapt to different income levels. You do not need to hit the exact percentages -- they are guidelines, not rigid rules.
If you live in a high-cost area, your needs might consume more than 50%. That is okay -- the goal is awareness. Once you see where your money actually goes, you can make intentional adjustments over time. Even shifting 2-3% from wants to savings can compound into thousands of dollars over a few years.
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