| Annual take-home pay | $60,000 |
|---|---|
| Needs per year | $30,000 |
| Wants per year | $18,000 |
| Savings per year | $12,000 |
| Emergency fund target (3–6 months of needs) | $7,500 – $15,000 |
Needs are bills you must pay, wants are everything optional, and savings covers saving, investing and extra debt payments. Minimum debt payments count as needs. Saving $1,000 a month adds up to $12,000 a year before any interest.
Budget Calculator · free calculator by CalcWorthy