Budget Calculator

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Get your 50/30/20 budget and then personalize it to your priorities and situation

The 50/30/20 approach can be a helpful way to get started with budgeting. It’s a simple rule of thumb that suggests you put up to 50% of your after-tax income toward things you need, 30% toward things you want, and 20% toward savings.

50% Needs

Things you must have or can't live without.

Examples: housing, groceries, utilities, transportation, child care, debt payments

30% Wants

Things you can cut back on or do without.

Examples: entertainment, dining out, clothing, splurges

20% Savings

Money you save for future goals.

Examples: emergency fund, home, vacation, retirement, financial freedom

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Enter your income to get your 50/30/20 budget

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Need Help?Your after-tax income is the amount in your paycheck after taxes and other deductions are taken out. If you save for retirement by having money deducted from your paycheck, you can include those savings in your budget below - just remember to add the amount to your income.

Personalize your monthly budget

Needs

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Wants

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Savings

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Let's get budgeting!

My 50/30/20 Monthly Budget

Needs 50% $5,000

Wants 30% $3,000

Savings 20% $2,000

Values are based on a monthly budget.

Congratulations, you're off to a great start!

Your 50/30/20 budget is a simple rule of thumb that can be a helpful way to get started with budgeting.

Take the next step and personalize your budget based on your priorities and financial situation.

Good job!

Good Job!

You have an extra $1,100. Consider putting it toward savings or paying down any debt you have.

Good job!

Good Job!

Good job creating a balanced budget! Now is a good time to look at how you're allocating your income across your NEEDS, WANTS, and SAVINGS.

Uh Oh!

Uh Oh!

Your monthly budget exceeds your income by $500. When looking for ways to reduce your spending, your WANTS is a good place to start.

Monthly Budget

Income $10,000

Allocated $8,900

Remaining $1,100

50/30/20 My Budget Difference
Needs $5,000 $5,000 $500
Wants $3,000 $3,000 $300
Savings $2,000 $2,000 $300
Needs
50/30/20 $5,000
My Budget $5,000
Difference $500
Wants
50/30/20 $3,000
My Budget $3,000
Difference $300
Savings
50/30/20 $2,000
My Budget $2,000
Difference $300

Next Steps

Get a copy of your budget or share it with your financial professional

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The Budget Calculator is an interactive, online experience to help you create a monthly budget. The analysis in this experience is based on the information provided by you. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. IMPORTANT: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.

Please note: Spanish translation is intended solely as a convenience and subject to Voya's Terms of Use. Some pages or documents may only be presented in English. Spanish-speaking representatives are available to assist you at 1-800-584-6001.