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50/30/20 budget planner
The 50/30/20 rule splits your monthly take-home pay into three buckets: 50% on needs, 30% on wants, and 20% on savings and debt. Enter what lands in your account each month and see the three figures, then adjust the split to fit your life.
Not sure of the figure? Work it out with the take-home pay calculator, then drop the monthly number in here.
Adjust the split
Savings takes whatever is left, so the three always add up to 100%. Drag needs and wants; the classic plan is 50 / 30 / 20.
Your monthly plan
- Needs50%£1,250
- Wants30%£750
- Savings & debt20%£500
A budget is a starting point, not a rule. If your rent alone tops 50%, the split below explains how to adapt it.
Common questions
- What counts as a need versus a want?
- Needs are the things you genuinely cannot skip: rent or mortgage, council tax, utilities, a basic food shop, essential travel, minimum debt payments and insurance. Wants are everything that makes life nicer but could pause if money got tight: eating out, subscriptions, holidays, clothes beyond the basics, hobbies. If you would still pay it during a bad month, it is a need; if not, it is a want.
- Is 50/30/20 right for everyone?
- No, it is a starting point rather than a rule. In high-rent areas, essentials alone can pass 50%, so a 60/20/20 or 70/20/10 split is more honest; the planner lets you drag the needs slider to match your reality. What matters is that some money goes to savings every month and that wants do not quietly crowd it out. Treat the classic figures as a target to move towards, not a pass-or-fail test.
- How do I use this with the take-home pay calculator?
- Budgeting works on the money that actually lands in your account, not your gross salary. Run the take-home pay calculator first to get your monthly figure after tax, National Insurance, pension and any student loan, then enter that number here. The three buckets are then percentages of money you can really spend, which keeps the plan realistic.
- What goes in the savings bucket?
- Anything that builds your future: pension top-ups, an emergency fund, ISA or investment contributions, and extra debt repayment above the minimum (clearing costly debt is a form of saving). The 20% is a floor to aim for, not a ceiling; if you can send more, the leftover line at the bottom of the plan shows the headroom.
Want a quick read on whether your whole money setup is on track? The Money Health Check points you to the right next step.