Monthly Budget Planner UK (50/30/20)
Plan your monthly budget with the 50/30/20 rule — 50% needs, 30% wants and 20% savings. Enter your take-home pay and optionally your actual spending to see how your budget compares to the targets.
Calculator
What this means
The 50/30/20 rule is a simple budgeting framework: aim to spend about 50% of your take-home pay on needs, 30% on wants and 20% on savings and debt repayment. It's a starting point you can adapt to your situation.
How to use this calculator
- Enter your monthly take-home pay.
- The planner splits it into needs, wants and savings.
- Compare the suggested split with your actual spending.
Worked example
Your take-home pay is £2,400 a month.
- 50% needs = £1,200; 30% wants = £720; 20% savings = £480.
- Adjust the categories to match your real life.
A 50/30/20 split suggests £1,200 needs, £720 wants and £480 savings.
Who this is for
- Anyone starting to budget.
- People wanting a simple framework rather than tracking every penny.
- Anyone trying to save more consistently.
What the 50/30/20 rule means
The 50/30/20 rule splits take-home pay into 50% needs (rent, bills, food), 30% wants (eating out, hobbies) and 20% savings or debt repayment. It's a starting point, not a strict rule.
In high-cost areas, needs often exceed 50%, so treat the split as a target to work towards. Even shifting a few percent towards savings makes a real difference over time.
Frequently asked questions
It splits your after-tax income into three buckets: 50% for needs (rent, bills, food), 30% for wants (eating out, hobbies) and 20% for savings and extra debt repayments.
Use your take-home pay — the amount after tax and National Insurance that actually reaches your account — as the basis for the 50/30/20 split.
In high-cost areas, needs often exceed 50% and that's normal. Treat the percentages as a guide: keep wants in check and protect your savings rate as much as you can.
Not always — in expensive areas needs can take far more than 50%. Use it as a direction of travel: trim wants where you can and protect some savings, even if it's under 20%.
Build a small emergency buffer, then prioritise clearing high-interest debt within the 20%, before focusing on longer-term savings and investing.
Disclaimer
This calculator provides estimates for guidance only. It is not financial, legal or tax advice. Always check official sources or speak to a qualified professional before making decisions.
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