Budget Planner

What is Budgeting and what is the purpose of a Budget Planner?

Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.

What is the 50/30/20 rule in budget planning?

The 50/30/20 rules states that you should split your income into the following 3 categories: 50% on needs, 30% on wants, and 20% on savings. Learn more
This Budget Planner calculates the 50/30/20 rule for you based on your input. If a field doesn't apply to you put a "0".

Monthly Income

$0.00

Expenses(Needs)

$0.00

Wants

$0.00

Savings

$0.00

Your Totals:

Income:

Needs:

Wants:

Savings:

50/30/20 Rule: