Budgeting Monthly Expenses
A budget is simply telling your money where to go instead of wondering where it went. Using percentage-based rules makes budgeting scalable regardless of your income level.
Use percentage tools to easily break down your take-home pay into needs, wants, and savings according to popular frameworks like the 50/30/20 rule.
Essential Calculators
Use these tools to run the numbers for this scenario.
Action Plan Checklist
- Calculate your true net income (take-home pay after taxes).
- List all fixed monthly expenses (rent, insurance, minimum debt payments).
- Allocate 20% of your income to savings or aggressive debt payoff immediately.
- Track your variable spending (groceries, entertainment) weekly.
Required Reading
Deep dive into the strategies behind this use case.
Key Terminology
Understand the financial and mathematical terms involved.
Worked Examples
Real-world scenarios with step-by-step calculations.
Business
Calculating a 30% Off Sale
To find the final price quickly in your head, you can multiply the original price by the percentage you are actually paying (70%, or 0.7) instead of calculating the discount first.
View in Calculator →Frequently Asked Questions
What is the 50/30/20 rule?
It is a budgeting guideline where 50% of your income goes to needs, 30% to wants, and 20% to savings and debt reduction.
How do I calculate 30% of my income?
Multiply your take-home pay by 0.30, or use our percentage calculator.