Budget Planner (50/30/20)
Plan Needs, Wants and Savings against your income. Export to CSV or open the Google Sheets template.
What this calculator does
The 50/30/20 rule is a starting framework, not a religion. The idea: 50% of your take-home pay covers needs (rent, groceries, utilities, EMIs, insurance premiums, minimum transport), 30% covers wants (eating out, streaming, weekend plans), and 20% goes toward savings and investments (SIPs, EPF top-ups, debt payoff beyond minimums, emergency fund).
For most first-job earners in Indian metros, the honest numbers are closer to 65/25/10 in the first year or two — rent alone in Mumbai or Bengaluru can eat 30-35% of a starting salary. That's okay. The point isn't to hit exact percentages; it's to make the split visible so you can push it in the right direction over time. Every salary hike is an opportunity to route the extra straight into the 20% bucket before your lifestyle absorbs it.
Use this planner to fill in your actual income and expenses. Export to CSV or copy into a Google Sheet if you want to track month over month. And be brutally honest in the 'wants' column — that ₹450 Swiggy order at 11 PM after a bad day is a want, not a need. Naming it correctly is 80% of the battle.
Needs ≤ 50% · Wants ≤ 30% · Savings ≥ 20%Variables explained
- Take-home (net) income
Salary after tax, EPF and any deductions — not CTC or gross.
- Needs
Rent, groceries, utilities, transport for work, insurance premiums, EMIs, essential medicines.
- Wants
Eating out, entertainment, streaming, hobbies, discretionary shopping, weekend plans.
- Savings & investments
SIPs, PPF, VPF, emergency fund contributions, extra loan prepayments.
Needs (50%)
Wants (30%)
Savings & investments (20%)
Download or copy
Take this plan with you — open in Google Sheets, Excel or Numbers.
Worked example: ₹60,000 take-home in Bengaluru
Needs (target 50% = ₹30,000): ₹18,000 rent (PG), ₹5,000 groceries, ₹1,500 utilities, ₹3,000 transport, ₹2,500 phone/internet. Total ₹30,000 ✓
Wants (target 30% = ₹18,000): ₹6,000 eating out, ₹500 OTT, ₹3,000 shopping, ₹4,500 weekend plans, ₹4,000 misc. Total ₹18,000 ✓
Savings (target 20% = ₹12,000): ₹8,000 equity SIP, ₹2,000 emergency fund, ₹2,000 PPF top-up.
Actual first-year metro reality: often 60/30/10. That's normal. Push it toward 55/30/15 by year two.
Reading the number — and what to do next
A calculator is only as useful as the decision it triggers. Look at your result and ask yourself one honest question: is this a number I'm proud of, or one that makes my stomach drop a little? Both are fine — you now have a starting point.
If the number surprises you (in either direction), don't rush to fix everything in a weekend. Personal finance rewards the boring: pick one small change, run it for 30 days, then rerun the calculator. Small, repeated moves compound faster than dramatic ones you can't sustain.
Watch out for two common traps. First, plugging in aspirational numbers ('I'll save ₹25,000 a month starting next month' when you've never saved more than ₹4,000). Use real, current numbers first — then run a second scenario for the future you're building toward. Second, over-checking. Once a month is plenty; consistent contributions do the actual work.
Finally, save the output. A screenshot in a folder called 'Money — 2026' is enough. Next quarter, rerun it and compare. That before/after gap is the actual progress bar.
Common mistakes
- ✗Categorising rent + food + transport as 'wants' if you moved to an expensive area for lifestyle.
- ✗Ignoring EMIs — they belong in 'needs' until fully cleared.
- ✗Never revisiting the plan after setup. Update every quarter.
- ✗Assuming 50/30/20 is achievable from day one in expensive metros.
Frequently asked questions
Is 50/30/20 realistic in Mumbai or Bengaluru?+
In year 1-2, no. Rent alone often exceeds 30%. Aim for 60/30/10 initially, drift toward 50/30/20 as income grows.
Where do EMIs belong — needs or savings?+
Needs, until the loan is closed. Loan repayment beyond minimums = savings bucket.
How do I budget with irregular freelance income?+
Use your lowest realistic month as the budget baseline. Any month with higher income → excess goes to savings/investments, not lifestyle upgrades.
Reminder: this calculator is a learning tool, not personalised advice. For decisions involving your actual money, talk to a SEBI-registered adviser about your specific situation.