Budget planner

How this works

Put in what you take home and everything that goes out. The planner adds it all up and shows how it splits across needs, wants and savings, what each line costs over a year, and what is left at the end of the month.

Enter each amount the way it actually comes and goes: every week, every two weeks, twice a month, monthly or once a year. Weekly pay arrives 52 times a year, not 48, so the planner converts everything through the year instead of multiplying by four. That small detail keeps a whole month of income or spending from going missing.

It all runs in your browser, and nothing is sent anywhere unless you choose to save it.

What is the 50/30/20 rule?

It is a rule of thumb for dividing take-home pay: about 50% for needs, 30% for wants, and 20% for savings and paying down debt.

The planner uses these as its targets and shows how your real spending compares, with a mark on the bar where each share would end. A rule of thumb is a starting point, not a verdict. If you live where rent is high, needs above half may simply be the cost of where you live. The value is in seeing your spending clearly, then deciding on purpose what to change.

Needs, wants and savings: where does each bill go?

Needs are what you must pay to live and work: rent or mortgage, utilities, groceries, transport, insurance, healthcare, childcare, and the minimum payments on your debts. Missing a minimum has consequences, so the planner counts it as a need.

Wants are the things you choose: eating out, subscriptions, shopping, travel, gifts and fun. Choosing them is fine. Seeing what they add up to over a year is what helps you choose well.

Savings covers your emergency fund, retirement, investing, saving for something particular, and anything you pay on a debt above the minimum. Extra debt payments belong here because they shrink what you owe, just as saving grows what you have.

Every line starts in its usual place, and you can move it with one tap if your life says otherwise. A line marked “Something else” starts in wants, so a guess never makes your needs look bigger than they are.

Lines are listed biggest first, each with its yearly cost beside it. The top of that list is where a change makes the most difference.

Zero-based budgeting: giving every dollar a job

The planner has a second mode, called “Give every dollar a job.” Instead of measuring your spending against 50/30/20, it asks you to give every dollar of income to a line, until income minus everything you have planned comes to zero.

Money left over is not a problem in this mode. It is simply money without a job yet, and the planner points it out so you can decide where it goes: your emergency fund, something you are saving for, or an extra payment on a debt. Anything within a dollar of zero counts as done, because chasing the last cent helps no one.

Zero-based budgeting suits people who like to plan every dollar ahead, and months when money is tight and every dollar matters. The 50/30/20 view suits anyone who wants a quick check on the overall shape.

What to do when your budget doesn’t balance

If more goes out than comes in, the planner tells you first, with the amount. It is the most useful thing a budget can show you, and far better seen here than at the bank.

Start with the biggest lines, because a small change to a large bill moves more than cutting a small one completely. Look at wants before needs, and look at the yearly figures: a subscription that seems small each month can add up to a surprising amount over a year.

The planner also points out patterns worth a second look:

• Housing above 30% of your take-home pay. That is an old rule of thumb, not a law, and it is still a useful check.
• Debt minimums above 20% of your take-home pay, where debt is shaping the budget rather than sitting inside it.
• A single line, other than housing, taking more than a quarter of your income.
• Very little left over and nothing going to savings, where one surprise bill can undo the month.

If debt payments are what is squeezing you, the debt payoff planner shows the order to pay them in and what a little extra each month would change. When your budget does leave money over, this planner offers to carry that amount there for you.

How often should you review your budget?

Look again whenever your money changes: a new job or a raise, a move, a new baby, a debt paid off, or a bill that goes up. Each of those changes the shape of the whole budget, not just one line.

Between those moments, a short check once a month works well. Compare what you planned with what actually happened, fix the lines that were wrong, and carry on. For a cost that comes once a year, such as an insurance premium or holiday gifts, choose “Once a year” and the planner spreads it across the months for you.

Questions people ask