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Calcimator

Needs vs Wants Calculator

Score and categorize your expenses into needs, wants, and savings. See how your spending compares to the 50/30/20 guideline.

Inputs

$
$
$
$
$
$
$
$
$
$
$

Results

Total Needs

$2,550.00

≈ 20 pairs of sneakers

Total Wants

$730.00

≈ 8 nice dinners out

Needs % of Income51%
Wants % of Income14.6%
Savings Remaining$1,720.00
Needs-to-Wants Ratio3.49:1
How to Use This Calculator
  1. Enter Monthly Income, Housing, and Utilities.
  2. Set Groceries, Transportation, and Insurance.
  3. Adjust Dining Out, Entertainment as needed.
  4. Review Total Needs ($) and Total Wants ($).
  5. Use Needs % of Income and Wants % of Income to inform your decision.

How the result changes with Housing

HousingTotal NeedsTotal Wants
$5,000.00$6,150.00$730.00
$17,500.00$18,650.00$730.00
$32,500.00$33,650.00$730.00
$45,000.00$46,150.00$730.00

What each input means

Monthly Income
Total take-home pay.
Housing
Rent or mortgage (a need).
Utilities
Electric, water, gas, internet.
Groceries
Essential food and household items.
Transportation
Gas, transit, car payment.
Insurance
Health, auto, renter's.
Dining Out
Restaurants and takeout (a want).
Entertainment
Movies, concerts, streaming.
Shopping
Clothing, gadgets, home decor.
Subscriptions
Streaming, apps, memberships.
Hobbies
Sports, crafts, games.

How this is calculated

Worked example, using the default values

  1. Identify Input Parameters
    4 parameters
    Monthly Income = 5000, Housing = 1400, Utilities = 200, Groceries = 400 = 11 input(s) provided
  2. Calculate Total Needs
    Total Needs
    2550 = $2,550
  3. Calculate Total Wants
    Total Wants
    730 = $730
  4. Calculate Needs % of Income
    Needs % of Income
    51 = 51
  5. Calculate Wants % of Income
    Wants % of Income
    14.6 = 14.6

Engine last updated .

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