60/30/10 Rule Calculator
Your Budget Breakdown
Needs (60%)
🏠₹0
Wants (30%)
🎬₹0
Savings (10%)
💰₹0
Monthly Income
💵₹0
Budget Allocation
Monthly Breakdown
About 60/30/10 Rule Calculator
60/30/10 Rule Calculator — a budgeting approach that prioritizes essential expenses. Allocate 60% to needs, 30% to wants, and 10% to savings for those with higher fixed costs.
How to use the 60/30/10 Rule Calculator
- Enter your monthly after-tax income.
- Click Calculate to see your budget breakdown.
- Review the recommended amounts for needs (60%), wants (30%), and savings (10%).
Understanding the Categories
- Needs (60%) — housing, utilities, transportation, groceries, insurance, healthcare, and debt payments.
- Wants (30%) — entertainment, dining, travel, hobbies, and non-essential purchases.
- Savings (10%) — emergency fund, retirement, investments, and financial goals.
When to Use This Rule
- Living in high-cost areas where rent and utilities consume more income.
- Early career professionals with student loans or entry-level salaries.
- Families with dependents and higher essential expenses.
Tips for Success
- Focus on reducing needs over time by negotiating bills or finding cheaper alternatives.
- As income grows, shift more toward savings to reach 15-20%.
- Use budgeting apps to track spending and stay within each category.
FAQs
Is 10% savings enough?
It's a starting point. Aim to increase savings as you pay off debt or reduce expenses. Even small increases compound over time.
How is this different from 50/30/20?
The 60/30/10 rule allows more room for essential expenses, making it suitable for those with higher fixed costs or lower incomes.
Use this rule as a flexible framework — adjust percentages based on your financial reality and goals.