Budget Planner (50/30/20)
Give every rupee a job — and see how your plan compares with 50/30/20.
Your plan against 50/30/20
Line by line
Enter what you actually spent next to a line to see whether you are over or under the plan.
Emergency fund
Results are estimates for general information and planning, not financial advice. Banks and institutions may calculate differently (rounding, fees, rate changes). Confirm figures with your lender or a qualified adviser before deciding.
About the Budget Planner (50/30/20)
Plan where your take-home pay goes each month. Enter your income after tax and your costs as needs, wants, savings and extra debt payments, then see how the split compares with the 50/30/20 rule, the 70/20/10 rule or your own shares — or build a zero-based budget that gives every rupee a job.
Add what you actually spent next to any line to see where you are over or under the plan, and set an emergency-fund target from your planned needs. The budget is saved only in this browser as you type, so it is there when you come back; download it as a CSV for a spreadsheet. Nothing is uploaded.
How to use it
- Enter your income after tax — what reaches your bank account each month. Add a line for each other regular income.
- Go through Needs, Wants, Savings and Extra debt payments: change the example amounts to yours, rename or remove lines, and add your own. Use the Type box to move a line to another group.
- Choose the method: 50/30/20, 70/20/10, Zero-based or My own split. The result shows each part against its target and what is left to plan.
- During the month, type what you spent next to a line to see the difference.
- Set how many months of needs your emergency fund should cover, what you have saved and what you add each month.
- Copy the summary or download the CSV. Use Clear amounts to start a new month with the same lines.
Examples
Needs ₹39,700 · wants ₹16,500 · savings ₹14,000 · extra debt payments ₹2,000
50/30/20: needs 49.6% (target ₹40,000), wants 20.6% (target ₹24,000), savings and debt 20% (target ₹16,000) · ₹7,800 left to plan
Needs and wants ₹56,200 — ₹200 over the ₹56,000 target · savings ₹2,000 short of ₹16,000 · extra debt payments ₹6,000 short of ₹8,000
₹39,700 of needs a month · ₹1,00,000 saved · ₹4,000 added each month
Target ₹2,38,200 · 42% saved · ₹1,38,200 to go · about 2 years 11 months (35 months)
Common uses
- Plan the month when your salary arrives, and check the plan at the end of the month.
- See whether your rent or EMI leaves room for savings under the 50/30/20 rule.
- Find out how much you can put into SIPs or towards paying off a loan.
- Set and track an emergency-fund goal.
The 50/30/20 rule
In All Your Worth: The Ultimate Lifetime Money Plan (Free Press, 2005), Elizabeth Warren and Amelia Warren Tyagi suggest a simple balance for your income after tax:
- 50% for needs (“must-haves”): the bills you would have to pay even if you lost your job — housing, utilities, groceries, insurance, transport to work, childcare and the minimum payments on your debts.
- 30% for wants: everything you could do without — eating out, entertainment, shopping, holidays.
- 20% for savings, which includes paying off debt faster than the minimum.
The percentages are a guide, not a law. In a city with high rents, needs often take more than half; the rule then shows how much the wants and savings have to give.
70/20/10 and zero-based budgets
70/20/10 is a simpler split some people use: 70% for everyday living (needs and wants together), 20% for savings and 10% for paying off debt — others use the last 10% for giving. Here the 10% counts your extra debt payments; minimum payments and EMIs belong under needs.
A zero-based budget has no target percentages. You plan until income minus planned spending, saving and debt payments is exactly zero, so every rupee has a purpose before the month begins. The calculator shows what is still left to assign.
How big should the emergency fund be?
There is no single right number. The US Consumer Financial Protection Bureau says that the amount you need “depends on your situation”, and suggests looking at the unexpected costs you have had to pay before (CFPB: An essential guide to building an emergency fund). This planner lets you choose the number of months and multiplies it by your planned needs — the costs that continue if your income stops — then shows how long it takes to get there at what you add each month.
Where your budget is kept
Your budget is saved in this browser’s local storage on this device — it is not sent to MySmartCoPilot or anyone else, and it is not synced to your other devices. Clearing your browser’s site data deletes it. Start again with the example deletes the saved budget; download the CSV first if you want a copy.
Limitations
- One month at a time: for yearly costs such as insurance premiums or school fees, enter a twelfth of the year’s amount.
- Amounts are typed in by you; the planner does not read bank statements.
- Percentages are of the income you enter. Use income after tax — the 50/30/20 rule is defined on take-home pay.
- Saved only in this browser. It is not backed up: download the CSV to keep a copy.
Privacy
Everything is calculated in your browser. Your budget is saved only in this browser’s local storage on this device and is never uploaded.
Frequently asked questions
What is the 50/30/20 rule?
A budgeting guideline from All Your Worth by Elizabeth Warren and Amelia Warren Tyagi: spend at most 50% of your after-tax income on needs, 30% on wants, and put at least 20% into savings and paying off debt. On ₹80,000 a month that is ₹40,000, ₹24,000 and ₹16,000.
Do EMIs count as needs or savings?
The EMI or minimum payment you must make is a need. Anything you pay on top to clear the loan or card sooner is an extra debt payment, which counts with savings in the 50/30/20 rule and has its own 10% in 70/20/10.
What is a zero-based budget?
A plan in which income minus everything you plan to spend, save and repay is zero — every rupee is given a job. Choose Zero-based and keep assigning until “Left to assign” reaches ₹0.
Should I budget with my gross salary or my take-home pay?
With take-home pay: the amount that reaches your bank account after income tax, PF and other deductions. The 50/30/20 rule is defined on income after tax. Your salary calculator result gives the in-hand figure.
How many months should my emergency fund cover?
It depends on how secure your income is, who depends on you and what you would have to pay in an emergency. Choose a number of months; the planner multiplies it by your planned needs.
Is my budget uploaded anywhere?
No. It is calculated and saved in your browser on this device only. Nobody else can see it, and it is not synced between devices.