Can I afford my minimums?
Budget calculator: can you afford your minimum payments?
Add your take-home pay, bills and minimum payments to see whether they fit, and what to do first if they don't.
How this works
- Everything is monthly and uses take-home pay: what's left after taxes and other deductions.
- Minimum payments start from your debts list, and you can change them here.
- What's left is take-home pay minus bills, minimums and other spending.
- The 50-30-20 split is one rule of thumb from the CFPB's budgeting lesson: 50% needs, 30% wants and 20% savings, which includes paying down debt. The CFPB notes that not everyone can follow it.
Sources
Awaiting expert reviewEstimates only; not financial, tax or legal advice.
Common questions
Should I use take-home pay or my salary?
Take-home pay: the money that reaches you after taxes and other deductions. That's what bills and minimum payments actually come out of.
What is the 50-30-20 rule?
One rule of thumb: 50% of take-home pay for needs, 30% for wants and 20% for savings, which includes paying down debt. The CFPB notes that not everyone can follow it.
What if my minimum payments don't fit?
Start with the gentlest options: ask your card company about a hardship program, or talk with a nonprofit credit counselor, which is often free or low-cost. The Debt Check shows which options fit your debts.
Is the information I enter saved or sent anywhere?
No sign-up is needed. Your numbers are saved only in this browser, and the other tools on the site reuse them.