General

Budget Planner Australia 2026

Track your monthly income and expenses. See how your spending compares to the 50/30/20 rule.

Monthly Income

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Needs (essentials — target 50%)

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Wants (lifestyle — target 30%)

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Savings & Debt (target 20%)

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Enter your income and expenses, then press Analyse Budget.

How It Works

This budget planner uses the popular 50/30/20 rule as a guideline: allocate 50% of your after-tax income to needs (rent, utilities, groceries, insurance), 30% to wants (dining out, entertainment, subscriptions), and 20% to savings and debt repayment.

Enter your income and categorise your expenses. The calculator shows your actual spending percentages compared to the recommended split, highlights whether you have a surplus or deficit, and provides personalised tips to improve your budget.

Frequently Asked Questions

What is the 50/30/20 budget rule?
The 50/30/20 rule suggests spending 50% of your after-tax income on needs (housing, food, transport), 30% on wants (entertainment, dining), and 20% on savings and debt repayment. It's a simple framework for balanced personal finance.

How much should I spend on rent in Australia?
The general guideline is no more than 30% of your gross income on housing costs. In expensive Australian cities like Sydney and Melbourne, many people spend 35-40%, but this leaves less room for savings and other expenses.

How much should I save each month?
Aim to save at least 20% of your after-tax income. For a household earning $6,000/month after tax, that's $1,200. Start with an emergency fund of 3-6 months' expenses, then focus on super contributions, investments or a home deposit.

What counts as a 'need' vs a 'want' in budgeting?
Needs are essentials you can't avoid: rent/mortgage, groceries, utilities, insurance, minimum debt repayments, transport to work. Wants are non-essential: streaming services, gym membership, eating out, holidays, hobbies. The distinction can be subjective — be honest with yourself.

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Last updated: April 2026

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