# Monthly budget calculator

> Calculate monthly needs, wants and savings targets with an adjustable 50/30/20 budget split. Track everyday personal spending in the Split Today Android app.

Canonical: https://splittoday.com/tools/monthly-budget-calculator
Last updated: 2026-10-27

Start with a simple monthly plan. Divide your take-home income into needs, wants and savings, then track everyday spending in Split Today.

## What this calculator does

- Needs, wants & savings targets
- Adjustable 50/30/20 targets
- Copy your starting budget

## How to use it

- Enter monthly take-home income after payroll deductions.
- Use the 50/30/20 starting split or adjust the needs, wants and savings percentages.
- Review and copy the target amounts. Install Split Today to record your everyday personal spending.

## Worked example

With ₹60,000 take-home income, a 50/30/20 reference assigns ₹30,000 to needs, ₹18,000 to wants and ₹12,000 to savings. Changing the mix to 60/20/20 gives ₹36,000, ₹12,000 and ₹12,000 respectively.

## How this monthly budget calculator works

Target amount = monthly take-home income × the category’s chosen percentage. The default 50/30/20 split is one budgeting framework, not a universal rule. Targets are editable and must sum to 100%.

The three targets allocate the entered income completely. They are suggested planning amounts based on your chosen percentages, not your bank balance, actual spending, or a prediction of how much you can safely spend.

Needs are essential costs such as housing and groceries; wants are discretionary costs; savings are funds set aside. Classify costs in the way that reflects your circumstances. Count each amount once: for example, avoid recording both purchases and a credit-card payment covering those same purchases. This is a planning worksheet, not individual financial advice.

Budgeting reference: [Consumer Financial Protection Bureau’s spending-rule worksheet](https://files.consumerfinance.gov/f/documents/cfpb_worksheet_my-spending-rule-to-live-by.pdf) explains why a budgeting rule should fit your circumstances.

## Turn your plan into a daily habit.

Use the personal expense tracker in Split Today to record everyday spending and see your monthly overview by category.

- Record your personal expenses
- See spending by month and category
- Keep personal and group expenses separate

## Common questions

### What is the 50/30/20 budget rule?

It is a reference framework for allocating take-home pay: 50% to needs, 30% to wants and 20% to savings. It may not fit your income, housing costs or obligations. You can change all three percentages in this planner.

### Should I enter gross salary or take-home pay?

Use the income actually available after taxes and payroll deductions. This keeps your planned allocations comparable with money you can use that month.

### Does this calculator track my actual spending?

No. This tool calculates target amounts only. Use the Split Today personal expense tracker on Android to record spending and view your monthly categories.

### Can I take this calculation into the app?

You can copy the result for reference. Website calculations do not transfer into Split Today automatically. Install the app to start a separate personal expense record.

### Are the free calculators private?

The calculators work in the current browser tab. Names and amounts are not uploaded or saved, and refreshing clears your entries. A copied result contains the details you choose to share. Use the Split Today app for an ongoing expense record.

### How does rounding work when a bill does not split evenly?

The calculators work in whole minor units: paise for INR and cents or pence for the other supported currencies. Leftover units go to the largest fractional shares first; ties follow participant order, so shares add up exactly. For example, ₹100 split three ways becomes ₹33.34, ₹33.33, and ₹33.33.

## Related

- [All free calculators](https://splittoday.com/tools)
- [Split Today Android app](https://play.google.com/store/apps/details?id=com.speeddevelop.split_today)