Budget calculator
Work out how to split your income with the simple 50/30/20 rule.
EUR
Enter what lands in your account each month.
Needs50%
€1,500
per month
€18,000 per year
Housing, food, electricity, transport and bills.
Wants30%
€900
per month
€10,800 per year
Going out, shopping, travel and hobbies.
Savings20%
€600
per month
€7,200 per year
Savings and paying down debt.
For guidance only. This is an estimate, not financial advice.
Want to skip the maths?
Penge connects to your bank and splits your spending automatically, so you can see straight away whether you are on budget.
What is the 50/30/20 rule?
The 50/30/20 rule is a simple budgeting method: spend 50% of your income on needs, 30% on wants and 20% on savings and paying down debt. The percentages are a guide you can adjust to your own situation.
Where the split needs adjusting
- Split your income after tax, not before. Running the rule on gross pay sets a needs budget you cannot actually fund.
- Rent decides whether 50% is realistic. In an expensive city housing alone can take that, and the honest move is to lower the wants share rather than pretend.
- Annual bills break monthly budgets. Insurance, road tax and Christmas are the usual culprits; divide them by twelve and treat them as a need.