Tools / Templates
50/30/20 budget template
The 50/30/20 rule is simple: half your income to needs, 30% to wants, 20% to savings and debt. This template does the math for you. Enter your take-home pay, categorize your expenses, and the sheet shows whether your current split matches the guideline — and where to adjust.
The template — copy it
Select the table, copy it, and paste it into Google Sheets or Excel. Column widths and formulas are described below the table. No sign-up, no download, nothing leaves your browser until you paste it into your own sheet.
| Bucket | Target % | Target $ | Actual $ | Actual % | Gap |
|---|---|---|---|---|---|
| Needs (rent, utilities, groceries, insurance, transport) | 50% | =income*0.5 | |||
| Wants (dining, entertainment, travel, upgrades) | 30% | =income*0.3 | |||
| Savings & debt payoff | 20% | =income*0.2 | |||
| Income | 100% |
Enter take-home income once; targets compute automatically. Actual % = Actual $ ÷ income. Gap shows how far each bucket is from the guideline.
How to use this template
- Enter your monthly after-tax income.
- The template calculates your target amounts for needs, wants, and savings.
- Categorize each expense as need, want, or savings/debt.
- The dashboard shows your actual split vs the 50/30/20 target.
- Adjust categories until the bars align — or decide consciously why they should not.
What is inside
- Automatic percentage calculator with visual bars.
- Category guide: what counts as a need vs a want (with edge cases like groceries vs dining).
- Debt payoff tracker that treats extra payments as part of the 20%.
- Annual review sheet to see how your split evolves.
When 50/30/20 works — and when it does not
The rule is a starting point, not a law. High-cost cities may push needs above 50%. Aggressive debt payoff may require 30% or more to savings. Use the template to see your current reality, then adjust the percentages to fit your goals. The value is in the measurement, not the exact ratio.
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