Budget Planner

Take control of your money with the 50/30/20 budgeting framework.

Monthly Income

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Total Expenses

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Remaining

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Savings Rate

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$ Monthly Income

Monthly Expenses

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Expense Summary

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50/30/20 Analysis

Needs (Target: 50%) {{ needsPercent }}%
{{ formatToCurrency(needsTotal) }} Target: {{ formatToCurrency(totalIncome * 0.5) }}
Wants (Target: 30%) {{ wantsPercent }}%
{{ formatToCurrency(wantsTotal) }} Target: {{ formatToCurrency(totalIncome * 0.3) }}
Savings (Target: 20%) {{ savingsPercent }}%
{{ formatToCurrency(savingsTotal) }} Target: {{ formatToCurrency(totalIncome * 0.2) }}
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Spending Breakdown

Personalized Tips

Needs are high: Consider finding a roommate, refinancing debt, or switching insurance providers.
Wants over budget: Try a no-spend challenge or find free alternatives for entertainment.
Boost savings: Automate transfers to savings on payday before you can spend it.
Great job! You're meeting your savings target. Consider investing the surplus.
Overspending alert: You're spending more than you earn. Review expenses to find cuts.

The 50/30/20 Budget Rule

50% - Needs

Essential expenses you can't avoid:

  • Housing (rent/mortgage)
  • Utilities
  • Groceries
  • Transportation
  • Insurance
  • Minimum debt payments

30% - Wants

Non-essential spending for enjoyment:

  • Dining out
  • Entertainment & streaming
  • Shopping
  • Hobbies
  • Vacations
  • Gym memberships

20% - Savings

Future you will thank you:

  • Emergency fund
  • Retirement contributions
  • Extra debt payments
  • Investments
  • Sinking funds

Adjusting the Rule for Your Situation

The 50/30/20 rule is a guideline, not a rigid law. If you live in an expensive city, needs might be 60%. If you're aggressively paying debt or saving for early retirement, savings might be 40%+. The key is awareness—know where your money goes and make intentional choices.