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Monthly budget

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List your bills line by line and compare your spending with the 50/30/20 guideline: needs, wants, and savings.

Credit cards (minimum payments)$150
Loans and rent$2,150
Utilities$430
Car gas$180

Fuel for driving to work, school, and errands. Add a line for each car if you want to track them separately. Gas for road trips belongs in Wants.

Taxes$0

Only enter taxes you pay yourself, such as estimated tax payments or property tax not included in your mortgage. Taxes already taken out of your paycheck are not part of take-home pay.

Insurance$550
Others not paid with credit card$600
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Within budget by
$140
  • Needs, target 50%$4,060 (68%) vs $3,000
  • Wants, target 30%$1,000 (17%) vs $1,800
  • Savings, target 20%$800 (13%) vs $1,200
  • Credit cards$150 (4% of needs)
  • Loans and rent$2,150 (53% of needs)
  • Utilities$430 (11% of needs)
  • Car gas$180 (4% of needs)
  • Taxes$0 (0% of needs)
  • Insurance$550 (14% of needs)
  • Others not paid with credit card$600 (15% of needs)
  • Biggest billsRent or mortgage $1,800, Groceries $600, Loan 1 $350

Give every leftover dollar a job, such as savings or debt payoff.

How this calculator works

The 50/30/20 guideline splits take-home pay into 50% for needs such as housing, utilities, groceries, insurance, and minimum debt payments, 30% for wants, and 20% for savings and extra debt payoff. It is a starting framework, not a rule: in high-cost areas needs often run higher, and people catching up on retirement may save more. Listing each bill separately shows exactly where your needs money goes and which category is the easiest to trim.

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Yearly ledgerTrack what you actually spend each month, all year, in a simple spreadsheet-style ledger grouped like the Monthly budget.Emergency fundFind your emergency fund target based on your essential expenses, and how long it will take to get there.Debt payoff plannerCompare the snowball and avalanche methods for paying off credit cards and loans, with your debt-free date and total interest for each.

Disclaimer: This calculator is for education and planning only and is not financial advice. Actual rates, fees, and terms vary by lender and your credit, so confirm the numbers with your lender before you sign anything.

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