50/30/20 Budget Calculator
Our 50/30/20 Budget Calculator splits your after-tax income into needs, wants and savings so you can spend accordingly
Updated 26 February 2022
50/30/20 Budget Calculator in a Nutshell
The 50/30/20 budget is designed to separate your after-tax income into three buckets to prevent you from going into debt. After every payday, the theory is you allocate 50% for needs (such as food, housing costs, electricity etc), 30% on wants (meals out, tickets to sporting events, holidays etc) and 20% on savings and paying off non-housing debts (like credit cards and car finance etc).
50/30/20 Budget Calculator Instructions:
- Enter in your monthly income, after-tax and any deductions (student loan, KiwiSaver, ACC levy etc.) to find your 50/30/20 allocation.
- To manage your allocations, we suggest reading our Barefoot Investor New Zealand guide.
50/30/20 Budget Calculator
Calculate how much you can allocate to needs, wants, savings and debt repayments in seconds
Monthly after-tax income
?
Include your take-home pay, after KiwiSaver, student loan repayments and any other deduction
Your 50/30/20 budget numbers are as follows:
NEEDS
$0
WANTS
$0
SAVINGS AND DEBT REPAYMENT
$0
Understanding the 50/30/20 Budget
- The 50/30/20 budget is a useful guideline to help you develop strong savings habits, but many people deviate from the exact percentages.
- Our view is that 50/30/20 is more of a goal than an absolute rule.
- Even if you allocate 10% of your take home pay to savings and debt repayment, the rewards can be significant.
- The 50/30/20 budget is designed to stop you accumulating new debt (my having a 'wants' spending limit) and pay off the debts you have.
Related Savings Guides and Resources:
Money Tips:
- PAYE Calculator
- Emergency Funds
- Budgeting Apps
- Budget Planner
- Investing Apps and Platforms
- Savings Accounts and Term Deposits
- Barefoot Investor for New Zealand
- Achieving Financial Independence, Faster
- Budgeting Apps
- Free Financial Literacy Classes
- Free Financial Products
- Budget Planner
Money Tips: