Paycheck Budget Planner
Allocate your net pay into different budget categories.
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The 50/30/20 Rule: A Simple Budgeting Framework
Budgeting doesn't have to be complicated. The 50/30/20 rule is a popular guideline for managing your after-tax income.
The Breakdown:
- 50% for Needs: Essential expenses like housing, utilities, groceries, and transportation.
- 30% for Wants: Discretionary spending like dining out, hobbies, entertainment, and shopping.
- 20% for Savings & Debt Repayment: Building an emergency fund, investing for retirement, and paying off high-interest debt.
Our tool helps you apply this framework to your paycheck. Enter your take-home pay, and it will show you how much to allocate to each category. The pie chart provides a clear visual of your budget.