Nitro ToolzBudget Planner (50/30/20)
Compare your spending with the 50/30/20 rule and see what is left.
Budget Planner (50/30/20)
Generated 10/9/2026
- Monthly take-home income: 5200
- Rent or mortgage: 1500
- Utilities and phone: 260
- Groceries: 520
- Transportation: 340
- Insurance and health: 280
- Minimum debt payments: 250
- Dining out: 300
- Entertainment and hobbies: 220
- Subscriptions: 60
- Shopping and travel: 280
- Savings and investing: 700
- Extra debt payoff: 100
- Custom category (any bucket): 0
- Custom category counts as: Wants
- Left unallocated
- $390.00
- Needs
- $3,150 (60.6%)
- Wants
- $860 (16.5%)
- Savings and debt payoff
- $800 (15.4%)
50/30/20 target: $2,600
Target: $1,560
Target: $1,040
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How to use this tool
- Enter take-home pay, not gross salary.
- Fill the needs, wants and savings categories with your real averages.
- Use the custom line for anything unusual and pick its bucket.
Formulas
Needs % = needs / income. Wants % and savings % follow the same pattern.
Targets: 50% needs, 30% wants, 20% savings and debt payoff.
Frequently asked questions
What is the 50/30/20 rule?
A guideline: about half of after-tax income to needs, 30% to wants and 20% to savings and debt payoff.
What counts as a need?
Costs you cannot easily skip: housing, utilities, groceries, transport, insurance and minimum debt payments.
What if my needs exceed 50%?
That is common in high-cost areas. Treat the targets as a guide and focus on keeping the unallocated line at zero or above.
Should extra debt payments be savings?
Yes, in this model. Paying principal above the minimum builds your net worth like saving does.