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Budget Calculator (50/30/20)
Plan your budget using the popular 50/30/20 rule
Income
$5,000
Budget Allocation
Needs (50%)
Housing, food, utilities
$2,500
Wants (30%)
Entertainment, dining out
$1,500
Savings (20%)
Emergency fund, investments
$1,000
About the 50/30/20 Rule
The 50/30/20 rule is a popular budgeting method that helps you allocate your income into three categories:
- 50% for Needs: Essential expenses like housing, utilities, groceries, and transportation
- 30% for Wants: Discretionary spending like entertainment, dining out, and hobbies
- 20% for Savings: Building emergency fund, paying off debt, and investing for the future
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