Estimate your monthly and annual cost of living based on your spending habits.
Total Monthly Expenses:$0.00
Total Annual Expenses:$0.00
Recommended Net Monthly Income*:$0.00
*Based on the 50/30/20 rule, where essential expenses should be approx. 50% of your take-home pay.
Understanding Your Cost of Living
A living expenses calculator is an essential tool for financial planning, whether you are moving to a new city, switching jobs, or simply trying to get your personal finances in order. By breaking down your spending into specific categories, you can identify where your money goes and where you might be able to save.
Key Categories Explained
Housing: This is usually the largest expense. Include your rent or mortgage, property taxes, and any required homeowners' association (HOA) fees.
Utilities: This covers electricity, heating, water, sewer, trash collection, and essential communication like high-speed internet and mobile phone plans.
Transportation: Include car payments, insurance, fuel, maintenance, or public transit passes (bus/train/subway).
Healthcare: Budget for insurance premiums, co-pays, and regular prescriptions.
Example Budget Scenarios
To help you visualize realistic costs, here are two common scenarios based on average cost-of-living data:
Expense Category
Frugal Student (Monthly)
Average Family (Monthly)
Housing
$800
$2,200
Food/Groceries
$300
$850
Utilities
$100
$350
Transport
$50
$600
Total
$1,250
$4,000
How to Reduce Your Monthly Expenses
If your calculated totals are higher than your income, consider these strategies:
Audit Subscriptions: Check for "zombie" subscriptions—streaming services or gym memberships you no longer use.
The 50/30/20 Rule: Aim to spend 50% of your income on needs, 30% on wants, and 20% on savings or debt repayment. If your "needs" exceed 50%, look for ways to downsize housing or transportation.
Meal Prep: Grocery costs are significantly lower than dining out or ordering delivery. Even reducing takeout to once a week can save hundreds monthly.
function calculateExpenses() {
var housing = parseFloat(document.getElementById('housing').value) || 0;
var groceries = parseFloat(document.getElementById('groceries').value) || 0;
var utilities = parseFloat(document.getElementById('utilities').value) || 0;
var transport = parseFloat(document.getElementById('transport').value) || 0;
var healthcare = parseFloat(document.getElementById('healthcare').value) || 0;
var entertainment = parseFloat(document.getElementById('entertainment').value) || 0;
var debt = parseFloat(document.getElementById('debt').value) || 0;
var misc = parseFloat(document.getElementById('misc').value) || 0;
var totalMonthly = housing + groceries + utilities + transport + healthcare + entertainment + debt + misc;
var totalYearly = totalMonthly * 12;
// 50/30/20 rule calculation: If these are the "needs" + "wants",
// we calculate what the total take home should be if these expenses represented 80% (Needs+Wants)
var recommendedIncome = (totalMonthly / 0.8);
document.getElementById('monthlyTotal').innerText = '$' + totalMonthly.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('yearlyTotal').innerText = '$' + totalYearly.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('recommendedIncome').innerText = '$' + recommendedIncome.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('results').style.display = 'block';
}