Monthly Budget Planner
Compare your current plan with a flexible needs, wants, and goals framework.
Make this estimate actionable
Get one practical money step each Tuesday from Erik Edgington.
How to use this calculator
A useful budget gives every dollar a job while leaving room for real life. Enter realistic numbers, review the estimate, and test a few scenarios before choosing your next step.
Frequently asked questions
What is the 50/30/20 budget?
It is a flexible framework that directs roughly 50% of take-home pay to needs, 30% to wants, and 20% to savings and debt goals.
What if needs exceed 50%?
Treat the percentages as guideposts. Protect essentials, set a realistic goal category, and improve the mix gradually.
Should debt payments count as needs or goals?
Minimum payments are needs; amounts paid above the minimum generally fit in the goals category.
Reviewed by Erik Edgington, a banking and credit union professional since 2010.
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