Household budgeting
Budget Planner
Track income and expenses and check your budget against the 50/30/20 rule.
Example: the 50/30/20 rule on $4,000 a month
One way to split a $4,000 monthly take-home pay into needs, wants and savings:
Needs · 50%
$2,000
- Rent or mortgage
- Groceries
- Utilities
- Transport
Wants · 30%
$1,200
- Dining out
- Entertainment
- Hobbies
- Shopping
Savings · 20%
$800
- Emergency fund
- Investments
- Extra debt repayment
- Super top-up
The 50/30/20 split is a guideline, not a rule — high rent often pushes needs above 50%, and that's a signal to rebalance, not a failure.
Budget Planner
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Reviewed by Ashma Ghimire, ASA, CPA AustraliaLast reviewed 15 May 2026
How the budget planner works
Build a complete household budget in a few minutes — no spreadsheet required.
1. Enter income
Add take-home pay, or let the planner estimate it from gross salary or an hourly rate.
2. Add expenses
List each bill with its own category and frequency — weekly, fortnightly, monthly or annual.
3. Check the split
See your needs, wants and savings percentages scored against the 50/30/20 targets.
4. Review projections
Yearly and daily breakdowns, top spending categories, and an emergency fund goal.
What is the 50/30/20 rule?
The 50/30/20 rule is a simple way to divide after-tax income: half covers essentials, 30% goes to lifestyle spending, and 20% goes to savings or extra debt repayment. Because it works in percentages, the same split scales from a part-time wage to a six-figure salary. Not sure what your after-tax income is? The take-home pay calculator works it out from your gross salary.
| Monthly take-home | Needs (50%) | Wants (30%) | Savings (20%) |
|---|---|---|---|
| $3,000 | $1,500 | $900 | $600 |
| $4,000 | $2,000 | $1,200 | $800 |
| $5,000 | $2,500 | $1,500 | $1,000 |
| $6,000 | $3,000 | $1,800 | $1,200 |
| $7,000 | $3,500 | $2,100 | $1,400 |
| $8,000 | $4,000 | $2,400 | $1,600 |
Needs, wants and savings: how expenses are grouped
The Budget Health score classifies each expense category into one of three buckets. If a category could go either way — a car you need for work versus a second car — put it where it honestly belongs for your situation.
Needs — target 50%
Wants — target 30%
Savings — target 20%
Savings rate and your emergency fund
Your savings rate is the share of take-home pay you keep — income minus expenses, divided by income. The planner tracks it for you and converts it into two concrete goals: a three-month emergency fund based on your actual expenses, and a five-year projection at your current rate. If the savings rate you want needs a higher income, the reverse salary calculator shows the gross salary behind any take-home target.
Pay yourself first
Move savings to a separate account on payday instead of saving whatever is left at the end of the cycle. Budgeting per pay cycle — weekly or fortnightly — usually sticks better than monthly budgets for wages paid weekly or fortnightly.
Frequently Asked Questions
How does the budget planner work?
Enter your take-home pay and how often you're paid, then add each regular expense with its own category and frequency. The planner shows whether you're left with a surplus or deficit, scores your spending against the 50/30/20 rule, and projects your income, expenses and savings across the year and per day.
Should I budget with gross or net income?
Budget with net (take-home) pay — the amount that actually lands in your bank account after tax. If you only know your gross salary or hourly rate, switch the income input to Before Tax (Gross) and the planner estimates your take-home pay using current Australian tax settings.
What is the 50/30/20 rule?
The 50/30/20 rule splits after-tax income into three buckets: 50% for needs (housing, groceries, utilities, transport), 30% for wants (dining out, entertainment, hobbies) and 20% for savings and extra debt repayment. It's a guideline rather than a law — the planner shows how your actual split compares to the targets.
What counts as a need and what counts as a want?
Needs are expenses you can't reasonably avoid: rent or mortgage, groceries, utilities, transport, insurance, health, education and debt repayments. Wants are discretionary: entertainment, shopping and similar lifestyle spending. The planner classifies each expense category automatically when scoring your 50/30/20 split.
How are annual projections calculated?
Every amount is converted to a yearly figure using its own frequency — weekly amounts are multiplied by 52, fortnightly by 26 and monthly by 12. That means you can mix a weekly grocery shop with a monthly phone bill and an annual insurance premium and still get an accurate yearly picture.
Can I mix weekly, fortnightly and monthly amounts?
Yes. Your income and each expense keep their own frequency, and the planner normalises everything to annual figures before comparing them. This suits Australian pay cycles, where wages are often weekly or fortnightly while bills arrive monthly or quarterly.
How much should I keep in an emergency fund?
A common target is three to six months of living expenses. The planner calculates a three-month emergency fund goal from your current expenses and estimates how many months it would take to reach it at your current savings rate.
What is a good savings rate?
The 50/30/20 benchmark is 20% of take-home pay, but the right rate depends on your income, housing costs and goals. Saving anything consistently beats saving nothing — even 5–10% builds a buffer, and the planner shows how trimming individual expenses moves your rate.
What if my needs are more than 50% of my income?
High rent or mortgage repayments push many budgets past the 50% needs target, especially in capital cities. Treat the rule as a direction rather than a pass/fail test: trim wants where you can, keep saving something, and rebalance over time as your income or housing costs change.
Is my budget saved or shared anywhere?
No. The budget runs entirely in your browser and is never stored or sent to a server — refreshing the page clears it. Take a screenshot or note the final figures if you want to keep a copy.