# 50/30/20 Budget Worksheet (Printable Template)

How it works: 50% of after-tax income goes to Needs, 30% to Wants, and 20% to Savings and debt payoff. Fill in your numbers, compare actual vs. target, and adjust.

## The worksheet

```
50/30/20 BUDGET WORKSHEET
Month: _______________

MONTHLY AFTER-TAX INCOME: $__________

--- TARGETS (auto-calculated) ---
Needs target (50%):    $__________
Wants target (30%):    $__________
Savings target (20%):  $__________

--- NEEDS (50%) ---
Housing (rent/mortgage):        $__________
Utilities (electric/water/gas): $__________
Groceries:                      $__________
Transport (fuel/transit):       $__________
Insurance (health/car):         $__________
Minimum debt payments:          $__________
Phone/internet:                 $__________
Childcare/medical essentials:   $__________
  NEEDS TOTAL:                  $__________
  vs target:                    $__________  (over / under)

--- WANTS (30%) ---
Dining out / takeaway:          $__________
Entertainment / subscriptions:  $__________
Shopping / clothing:            $__________
Hobbies:                        $__________
Travel fund:                    $__________
Gifts:                          $__________
  WANTS TOTAL:                  $__________
  vs target:                    $__________  (over / under)

--- SAVINGS & DEBT (20%) ---
Emergency fund:                $__________
Extra debt payoff:             $__________
Retirement / investing:        $__________
Big-goal sinking fund:         $__________
  SAVINGS TOTAL:                $__________
  vs target:                    $__________  (over / under)

--- MONTH SCORECARD ---
Total spent:                    $__________
Total saved:                    $__________
Savings rate:                   __________%
Biggest overspend category:     ______________________________
One change for next month:      ______________________________
```

## Worked example ($3,000/month after tax)

```
Targets: Needs $1,500 | Wants $900 | Savings $600

NEEDS: rent $950 + utilities $120 + groceries $280 + transport $100
       + phone $50 = $1,500  -> exactly on target
WANTS: dining $250 + subscriptions $40 + shopping $300
       + hobbies $150 = $740  -> $160 under target
SAVINGS: emergency fund $400 + investing $360 = $760 -> $160 over target
Scorecard: saved $760 (25% savings rate). Change for next month:
move the $160 wants surplus to the emergency fund automatically.
```

## What counts as what

**Needs (50%):** housing, utilities, groceries, transport to work, insurance, minimum debt payments, essential phone/internet, childcare, required medical costs.

**Wants (30%):** dining out, entertainment, subscriptions, non-essential shopping, hobbies, vacations, gifts, premium upgrades of anything.

**Savings (20%):** emergency fund, extra debt payments above minimums, retirement accounts, investing, sinking funds for big goals.

**Gray areas — decide once, stay consistent:** a basic phone plan is a need; the flagship upgrade is a want. Groceries are a need; premium organic everything is partly a want.

## Tips for making it stick

1. Pay yourself first: move the 20% to savings on payday, before you spend anything.
2. If needs exceed 50% (common with high rent), shrink wants first — never raid savings.
3. Review monthly for 10 minutes; the scorecard's "one change" compounds fast.
4. Irregular income? Budget on last month's actual income, not this month's hope.
5. High-interest debt? Temporarily run 50/30/20 as 50/20/30 — flip wants and savings until the debt is gone.