Personal Finance
Budget Planner Calculator
Plan your monthly budget, see your surplus, and benchmark against the 50/30/20 rule. Plan your monthly budget. Add income and expenses, see your surplus and savings rate, and compare against the 50/30/20 budgeting rule.
Monthly income and expense tracking Surplus/deficit calculation Savings rate percentage 50/30/20 rule benchmark
Key Facts
50/30/20 needs 50% housing, food, utilities
50/30/20 wants 30% entertainment, dining
50/30/20 savings 20% savings & debt
Good savings rate 20%+ recommended
AU average savings rate ~5–10%
01 —INPUTS
02 —RESULTS
Monthly Surplus+$4,000.00
Summary
Total Income$8,000.00
Total Expenses$4,000.00
Savings Rate50%
50/30/20 Benchmark
Needs (50%)$4,000.00
Wants (30%)$2,400.00
Savings (20%)$1,600.00
Expense Breakdown
Housing$2,500.00 (63%)
Food & groceries$1,000.00 (25%)
Transport$500.00 (13%)
The 50/30/20 rule: 50% of after-tax income for needs, 30% for wants, and 20% for savings and debt repayment. This is a simple guideline — adjust based on your circumstances.
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Tax Accuracy & Sources
This calculator is an estimate tool and may not cover all personal circumstances. For state-based taxes, confirm details with your state or territory revenue office.
Common questions
What is the 50/30/20 rule?
A simple budgeting guideline: 50% of after-tax income for needs (housing, food, utilities), 30% for wants (entertainment, dining out), and 20% for savings and debt repayment.
What counts as a good savings rate?
Financial experts recommend saving at least 20% of your income. This includes super contributions, emergency fund savings, and investments. The average Australian household savings rate is around 5-10%.
How often should I update my budget?
Review your budget monthly. Track actual spending against planned amounts and adjust. Life changes (new job, moving house, having a baby) are good triggers for a full budget review.