What is the 50/30/20 budgeting rule?

50% for needs (housing, food, utilities, transportation), 30% for wants (entertainment, dining out, hobbies), 20% for savings and debt repayment. For $5,000 income: $2,500 needs, $1,500 wants, $1,000 savings.

How do I calculate what percentage of my budget goes to housing?

Divide housing costs by total income, multiply by 100. For $1,500 rent with $5,000 income: (1500 / 5000) × 100 = 30%. Financial experts recommend keeping housing under 28-30% of gross income.

What are recommended budget percentages for each category?

Housing: 25-30%, Food: 10-15%, Transportation: 10-15%, Savings: 20%, Debt: under 15%, Entertainment: 5-10%, Clothing: 3-5%, Healthcare: 5-10%. Adjust based on location and personal circumstances.

How do I track my budget percentages?

Track expenses for 1-3 months, categorize spending, calculate percentages. Compare to recommended ranges. Adjust high categories by moving money to aligned goals (reduce dining out 5%, increase savings 5%).

Budget Percentage Calculator

Calculate what percentage of budget goes to each expense category. Follow the 50/30/20 rule and track spending distribution.

Calculate

Total Income ($)

Expense ($)

Formula

Category Percentage = (Category Spending / Total Budget) × 100

Example

income:5000

housing:1500

food:600

housing Percent:30

food Percent:12

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