Divide your income into three broad categories

You keep hearing that everyone should set a household budget. But there are countless ideas out there about how to allocate your money. Here's a simple one: devote 50% of your post-tax income to needs, 30% to wants, and 20% to long-term savings. This calculator makes it easy to apply this formula to your own financial situation.

Information, calculators, and interactive coaches provided are tools for your use and are not intended to provide financial, investment, legal, tax or accounting advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.