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Nivesly Tools

Financial Calculators

Monthly Budget Planner

Plan your monthly income and expenses with ease. Add income sources and expense categories, then instantly see your balance, savings rate, and 50/30/20 rule analysis.

Free50/30/20 RuleExpense BreakdownNo sign-up

Income

$5,000
$

Expenses

$2,650
$
$
$
$
$

Monthly Balance

$2,350

surplus

Total Income

$5,000

Total Expenses

$2,650

Savings Rate

47.0%

of income saved

50/30/20 Rule

Needs (50%)$2,450 / $2,500
Wants (30%)$200 / $1,500
Savings (20%)$2,350 / $1,000

Expense Breakdown

Housing
$1,500
Transportation
$400
Food & Groceries
$400
Entertainment
$200
Utilities
$150
Add or remove income and expense rows to match your actual monthly budget.

How to use the monthly budget planner

Add all your monthly income sources and expenses using the + buttons. The calculator updates in real time, showing your net balance, savings rate, and expense breakdown. Categorize expenses for the 50/30/20 analysis.

The 50/30/20 Budgeting Rule explained

A popular budgeting framework popularized by Senator Elizabeth Warren:

  • 50% Needs: Housing, food, utilities, transportation, healthcare
  • 30% Wants: Entertainment, dining out, shopping, subscriptions
  • 20% Savings & Debt: Emergency fund, retirement, debt payoff

What is a good monthly savings rate?

Financial experts generally recommend saving at least 20% of your income. Even 10–15% is a solid foundation. The key is consistency — small, regular savings compound over time into significant wealth through the power of compound interest.