How do I use the 50/30/20 rule calculator?

Using the 50/30/20 rule calculator is entirely easy; all you need to do is enter your monthly after-tax income. Then, the calculator will tell you how to distribute your salary according to the 50/30/20 budgeting rule. You can use the 50/30/20 calculator backward as well.

What is the 50 30 20 budget rule?

The 50-30-20 rule is comprehensive and covers all bases. And don’t worry if math isn’t your thing because we’ve included 50 30 20 budget spreadsheet ideas to help you stay on top of your budgeting strategies. That said, let’s take a close look at this budgeting rule, including what it is and how it works.

How do I calculate a 50/30/20 budget?

Here are your next steps: Multiply your monthly take-home pay by 50%, 30% and 20% to come up with the recommended spending limits for each category. Review your expenses to see how the 50/30/20 calculations compare to your reality. This is where your bank, credit card and loan statements come in handy.