Budget Calculator

The 50/30/20 rule suggests allocating 50% of after-tax income to needs (housing, food, utilities), 30% to wants (entertainment, dining out), and 20% to savings and debt repayment.

The common guideline is to spend no more than 28-30% of gross income on housing costs. If you earn $5,000/month, keep rent or mortgage under $1,500.

Aim to save 3-6 months of living expenses in an easily accessible account. Start with a $1,000 mini emergency fund, then build up. Keep it in a high-yield savings account.

Zero-based budgeting assigns every dollar of income a specific job — spending, saving, or investing — until you reach zero unallocated dollars. It ensures intentional spending without waste.

Use budgeting apps like YNAB, Mint, or your bank's built-in tools to categorize transactions. Review monthly to compare planned vs actual spending and adjust categories as needed.