50/30/20 Calculator for Microsoft Excel
Use this free 50/30/20 budget calculator for Microsoft Excel to quickly see what you can afford to spend and save.
About the 50/30/20 Calculator for Microsoft Excel
This is a simple template for Excel based on the 50/30/20 budget to help you quickly see what you can afford to spend and save in the months ahead.
- 50% of your income goes to NEEDS: core living expenses – rent, mortgage, groceries, bills, transportation, insurance.
- 30% goes to WANTS: entertainment, eating out, certain subscriptions, fun stuff!
- 20% goes to FREEDOM: eliminating debts and saving for emergencies and then retirement.
It’s this simple: if you make $50,000 after taxes, you have:
- $25,000/year or $2083/month for needs
- $15,000/year or $1250/month for wants
- $10,000/year or $833 to pay off debt or save for retirement and emergencies.
Simply input your numbers in the 50/30/20 calculator for Excel to see how this budget might work for you.
- Read more: 50-30-20 Budgeting Method
- See also: The Top 5 Recommended Budgeting Strategies
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