Budgeting · Free planning page
The 50/30/20 rule and a monthly budget template
See how the 50/30/20 rule splits a month into needs, wants and savings, then fill in a monthly budget sheet and print it. Free, nothing you type is saved or sent, no sign-up needed.
- Split any amount
- Budget sheet to print
- Worked examples
- No sign-up needed
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Part 1 · The 50/30/20 rule
The 50/30/20 rule, step by step
The rule sorts spending into three groups: about 50% of your income for needs, 30% for wants and 20% for savings. Type a monthly amount to see the three pieces. Nothing you type is saved or sent.
- Needs50%
- Things you cannot do without, such as housing and groceries.
- Examples: Rent or housing, groceries, utilities, insurance, bus fare or gas to get to class or work.
- Wants30%
- Spending by choice, such as dining out and entertainment. Iowa State notes that needs and wants may differ between people.
- Examples: Dining out, subscriptions, hobbies, entertainment, vacations.
- Savings20%
- Money set aside for later goals.
- Examples: An emergency fund, saving toward a home, saving for retirement.
The 50/30/20 split is one common rule of thumb, not a law and not advice for your situation. Geneva College points out that it may not be the most practical split for college students without a full-time income, and that each person might have a different budget plan. Where a need ends and a want begins can differ from person to person, so follow your own course or campus guide if it says something different.
Worked examples
Made-up people and amounts, to show how the arithmetic works.
Dana, evening classes and a part-time shift
The plain 50/30/20 split of $2,400 a month.
- Needs 50%$1,200.00
- Wants 30%$720.00
- Savings 20%$480.00
Marcus, full-time student with a small paycheck
A made-up 80/20/0 split of $1,500 a month, for someone whose paycheck is small while in school.
- Needs 80%$1,200.00
- Wants 20%$300.00
- Savings 0%$0.00
Priya, working while in a certificate program
A made-up 60/25/15 split of $1,850 a month, to show the percentages can be changed to fit a month.
- Needs 60%$1,110.00
- Wants 25%$462.50
- Savings 15%$277.50
Part 2 · Monthly budget sheet
Fill in a monthly budget sheet
Write what comes in and what you spend in a typical month. The totals and each group's share of your income update as you type, next to the 50/30/20 targets. Copy or print it. Nothing you type is saved or sent.
Money coming in
Needs (rule of thumb 50%)
Wants (rule of thumb 30%)
Savings (rule of thumb 20%)
Your totals
Income: $0.00
Needs
$0.00
Add income to see the share · rule of thumb 50%
Wants
$0.00
Add income to see the share · rule of thumb 30%
Savings
$0.00
Add income to see the share · rule of thumb 20%
Left over (income minus all three groups): $0.00
A negative number means the amounts you entered add up to more than your income, so the sheet is a good place to look for a line to change.
A filled-in example
Elena is made up. Her take-home pay is $2,600.00 a month, and the totals below are added up from her lines.
Needs
- Rent or housing$1,000.00
- Utilities and phone$200.00
- Groceries$320.00
- Transportation$180.00
- Insurance and health costs$90.00
$1,790.00 · 68.8%
Rule of thumb 50%
Wants
- Dining out$150.00
- Subscriptions$30.00
- Entertainment and hobbies$80.00
- Clothes and shopping$90.00
- Trips and outings$60.00
$410.00 · 15.8%
Rule of thumb 30%
Savings
- Emergency fund$250.00
- A goal I am saving toward$150.00
$400.00 · 15.4%
Rule of thumb 20%
Elena spends more of her month on needs than the 50% in the rule and less on wants. That is a snapshot to compare against, not a score: the rule is a starting point, and her own numbers are what matter.
Bonus
Three blank sheets to print
Locked until you enter your email in the box above
Savings tracker, 12 weeks
A goal line and twelve weekly rows to write the amount set aside and a running total.
One-month spending log
Date, what it was, amount, and a Needs or Wants mark, with a total line per group.
Monthly bill and pay calendar
A 31-day grid to write when pay arrives and when each bill is due, with a note about weeks to watch.
Everything above stays free: the 50/30/20 split, the monthly budget sheet and the worked examples.
Sources
Where the facts come from
Written in our own words from these public pages. The 50/30/20 split is one common rule of thumb, and your own course or campus guide may teach budgeting differently; follow it over this page. The examples are made up.
- Budgeting: how to create a budget and stick with it, the Consumer Financial Protection Bureau
- The 50/30/20 budgeting rule: a simple guide, Penn State (Pecunia blog)
- Spending money wisely, Iowa State University financial success
- Budget tips, Geneva College
- The basics to budgeting, UF/IFAS Extension Leon County
More free tools: study skills worksheets and project management templates.
Questions
Common questions
A rule of thumb that sorts spending into three groups: about 50% of income for needs, 30% for wants and 20% for savings. Penn State, Iowa State and UF/IFAS Extension all describe it this way. Part 1 shows the three pieces for any amount.
Needs are the things you cannot do without, such as housing and groceries. Wants are spending by choice, such as dining out and subscriptions. Where one ends and the other begins can depend on your life, so decide for yourself and stay consistent.
No. It is one common starting point. Geneva College notes it may not be the most practical split for college students who are not earning a full-time income, and that each person might have a different budget plan. Part 1 lets you change the percentages.
This page uses the amount you actually take home in a month. The cited pages do not all say which income they mean, so check any course or campus guide you are following.
No. Everything stays in your browser until you leave the page. Copy the text into your own document or print before you close the tab. The only thing you can send from this page is the email address for the bonus, if you choose to enter it.
Yes. The split, the budget sheet and the examples need no sign-up. An email unlocks three blank printable sheets, which open on this page right away and stay open on this browser.
No. It is a study and planning aid for learning how the rule works. The examples are made up. For decisions about your own money, talk to an adviser you trust.