Pocketify
50/30/20 budget calculator
Split your take-home pay into needs, wants and savings, then compare the plan with what you really spend.
The 50/30/20 rule splits take-home pay into three parts: about 50% for needs (housing, utilities, groceries, transport, minimum debt payments), 30% for wants (eating out, hobbies, shopping, streaming) and 20% for savings and extra debt payments. It was popularised by Elizabeth Warren and Amelia Warren Tyagi in their 2005 book All Your Worth.
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Needs, wants and savings: what goes where
| Needs (~50%) | Wants (~30%) | Savings & debt (~20%) |
|---|---|---|
| Rent or mortgage, utilities, groceries, transport to work, insurance, phone, minimum loan and card payments | Eating out, coffee, takeaway, hobbies, clothes beyond basics, streaming, travel | Emergency fund, retirement, extra debt payments above the minimum, saving for a goal |
Frequently asked questions
What is the 50/30/20 rule?
The 50/30/20 rule is a simple way to split take-home pay: about 50% for needs, 30% for wants and 20% for savings and extra debt payments. It was popularised by Elizabeth Warren and Amelia Warren Tyagi in their 2005 book All Your Worth.
What counts as a need in the 50/30/20 rule?
Needs are costs you must pay to live and work: housing, utilities, groceries, transport to work, insurance, and minimum debt payments.
What if my needs are more than 50% of my income?
That is common where rent is high. Treat 50/30/20 as a starting point: take the extra from wants first, keep some savings even if it is less than 20%, and look for one large need to reduce over time.
Track your 50/30/20 split
In Pocketify you can set category budgets for your needs and wants, log spending in two taps, and check the Stats page at month end to see your real split. Your data stays on your Android phone.
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