💰 Discretionary Income Calculator

Calculate how much you truly have left after taxes and essential expenses. Based on the 50/30/20 rule, compare your spending ratios and discover savings opportunities.

Financial Planning

💵 Income

Federal + state + FICA
Side hustle, rental, investments

🏠 Essential Monthly Expenses

Gas, transit, parking
Electricity, water, internet
Student loan, car loan, credit card
📊 Monthly Discretionary
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📉 Monthly Essentials
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🏦 Suggested Savings
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Based on 20% savings rate
Essentials -
Discretionary -
Taxes -

📏 50/30/20 Rule Comparison

Needs
Target 50%
Wants
Target 30%
Savings
Target 20%

💡 Financial Insights

📖 Financial Health Indicators

The 50/30/20 Rule

Classic budgeting rule: 50% of after-tax income for needs (housing, food, transport), 30% for wants (entertainment, travel, shopping), and 20% for savings and investments. If your needs exceed 50%, review which expenses can be reduced.

Housing Under 30%

It's generally recommended that housing costs (rent/mortgage) stay under 30% of after-tax income. If you're over, consider a roommate, moving, or refinancing.

Emergency Fund

Keep 3-6 months of essential expenses as an emergency fund. This tool shows how much you can allocate monthly toward building that fund.

Where Does Discretionary Income Go?

If you have good discretionary income but end the month with nothing, it's likely "lifestyle inflation" — expenses rising with income. Try "pay yourself first": automatically transfer 20% to savings on payday.