Personal & Family Budget Planner
A holistic budget planner using the 50/30/20 rule. Visualize income allocation across Needs, Wants, and Savings with interactive charts.
Expenses
About
Effective financial planning is less about restriction and more about allocation. The "50/30/20 Rule" is a widely accepted heuristic that divides net income into three distinct buckets: Needs (50%), Wants (30%), and Savings/Debts (20%). This planner allows users to map their actual spending against this ideal framework. By categorizing expenses - distinguishing between fixed obligations like rent (Needs) and variable lifestyle choices like dining out (Wants) - the tool highlights surplus capital that can be redirected toward debt reduction or investment.
Formulas
Budget health is determined by the "Zero-Based" checksum:
A positive balance indicates unallocated cash flow, while a negative balance indicates a deficit requiring immediate lifestyle adjustment.
Reference Data
| Category | Target % | Definition | Examples |
|---|---|---|---|
| Needs | 50% | Essential for survival & employment | Rent, Groceries, Utilities, Insurance |
| Wants | 30% | Lifestyle enhancements | Dining, Hobbies, Subscriptions, Travel |
| Savings | 20% | Future security & debt payoff | 401k, Emergency Fund, Credit Card Principal |