A free 50/30/20 budget calculator and plain-language budgeting guides for Canadians, written by P. Beal.
I'm P. Beal. I spent 28 years in banking and financial planning, and I've owned and run small businesses in British Columbia for 19 years. These days I also drive rideshare part-time, which has given me a first-hand look at what budgeting is like when your income changes from week to week.
For most of my career I sat on the other side of the desk from people working through their money: mortgages, loans, savings plans, and the conversations that happen when a household budget stops working. That experience is what this site is built on.
The households that got into financial trouble rarely did it through wild spending. Far more often, their fixed costs crept up a little at a time: a bigger mortgage, a second car payment, one more monthly commitment. Eventually there was no room left to absorb a job loss, an illness, or a rate increase at renewal.
That's why I like the 50/30/20 rule. It isn't a guilt trip about your morning coffee. It points straight at the thing that decides whether a household is stable: how much of your take-home pay is already spoken for before the month begins.
I also watched plenty of people wait for the perfect budgeting system and never start. There isn't one. The best budget is the one you'll actually keep using, and for most people a simple framework beats a complicated one.
Most budgeting tools are either a bare calculator with no context or an app that wants you to track fifty categories and link your bank account. I wanted something in between: a tool that gives you clear targets in seconds, plus honest guidance about where the rule fits real Canadian life and where it doesn't.
That last part matters. In much of Canada, especially the Lower Mainland and the Fraser Valley, housing alone can take half of a paycheque. A budgeting site that pretends the 50% needs target is easy to hit isn't being straight with you. I'd rather tell you where the rule falls short and what to do about it.
Enter your after-tax income for any pay period and see your needs, wants and savings targets instantly. Open the calculator →
Log what you actually spend each month and compare it against your targets, with a downloadable Excel version if you prefer a spreadsheet. Open the tracker →
Where the 50/30/20 Rule Came From — and Where It Falls Short →
Making the 50/30/20 Rule Work in Real Life →
TFSA, RRSP or FHSA? Where Your 20% Should Go First →
Mortgage Renewal and Your 50/30/20 Budget →
Short answers to the most common 50/30/20 questions. Read the FAQ →
This site is general information, not personal financial, tax or investment advice. For decisions specific to your situation, speak with a licensed financial planner or accountant. See the full disclaimer.
Spotted an error or have a question? Send me a note.