Budget Calculator Australia โ 50/30/20 Rule
Plan your monthly budget, compare your spending against Australian benchmarks, and set savings goals with the 50/30/20 framework.
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How to Use This Calculator
Tab "Budget Planner"
Enter your after-tax monthly income and break down your spending into categories: housing, utilities, groceries, transport, insurance, subscriptions, dining out, and other. The calculator shows your total spending, monthly surplus or deficit, savings rate, a 50/30/20 assessment, and a housing stress check (above 30% of income on housing per the AHURI definition).
Tab "Benchmarks"
Compare your spending against Australian averages. Select your household size and location (capital city or regional). The calculator shows which categories are over or under the AU benchmark, identifies potential savings areas, and calculates how much you could save annually if you brought all categories to benchmark levels. Data is based on ABS Household Expenditure Survey 2024.
Tab "Savings Goal"
Set a target amount, enter your current savings, and specify your timeline in months. The calculator shows how much you need to save monthly, whether your current surplus covers it, what spending cuts are needed, and a projected timeline at your current rate.
The Formulas
Needs (50%): Housing + Utilities + Groceries + Transport + Insurance
Wants (30%): Subscriptions + Dining out + Other
Savings (20%): Income - Total spending
Savings rate:
Savings rate = (Income - Total spending) / Income x 100
Housing stress (AHURI definition):
Housing stress = Housing cost > 30% of gross income
Monthly savings needed:
Monthly needed = (Target - Current savings) / Months
AU average household spend (ABS HES 2024):
Single, capital city: ~$4,000-$5,000/mo
Couple, capital city: ~$6,500-$8,000/mo
Family (4+), capital city: ~$8,500-$10,500/mo
All benchmark figures are based on the ABS Household Expenditure Survey 2024 and adjusted for capital city vs regional areas. Individual spending varies widely โ use benchmarks as a guide, not a target.
Example
Sarah โ Marketing Manager in Sydney, $6,000/mo take-home
After-tax income $6,000/mo. Housing $2,200 (rent). Utilities $200. Groceries $500. Transport $400. Insurance $150. Subscriptions $80. Dining out $300. Other $200.
Sarah's savings rate of 32.8% exceeds the 20% target, but her housing costs trigger the AHURI housing stress threshold at 36.7% of income. Her needs category is above 50% due to Sydney rent. She could look at share housing or a cheaper suburb to bring needs below 50%.
Australian Budget Benchmarks
| Category | Single (Capital) | % of Income |
|---|---|---|
| Housing (rent/mortgage) | $2,000-$2,500 | 30-35% |
| Groceries | $400-$600 | 8-10% |
| Transport | $300-$500 | 6-8% |
| Utilities | $150-$250 | 3-4% |
| Insurance | $100-$200 | 2-3% |
| Dining / entertainment | $200-$400 | 4-6% |
| Other | $200-$400 | 4-6% |
| Total | $3,350-$4,850 | 57-72% |
Source: ABS Household Expenditure Survey 2024. Amounts are monthly. Regional areas are typically 10-20% lower for housing and dining, but similar or higher for transport and utilities.