How This Tool Works
📋 Purpose
This tool helps you understand how your household costs have changed over time, evaluate your current budget status, and plan what income you'll need in the future to maintain your lifestyle. Get personalized insights on rent trends, mortgage scenarios, and inflation impacts.
⚙️ How It Works
- 1Enter your income, housing costs (rent or mortgage), and other monthly expenses. Choose a past year for comparison and your forecast horizon.
- 2Review your current monthly budget breakdown and financial status (sufficient, tight, or shortfall).
- 3Compare how your costs have changed since 2018-2020, adjusted for inflation, with category breakdowns showing which expenses increased most.
- 4View projected costs and required income for 3, 5, or 10 years ahead. Understand if you need income growth to maintain your lifestyle.
- 5For renters: view rent index trends. For mortgage holders: see how interest rate changes could affect your payments.
📊 Your Financial Details
Enter your total household take-home pay (after tax)
Groceries, utilities, transport, entertainment, etc.
Plan Your Financial Future
Enter your income, housing costs, and household spending above to see how your budget compares to the past and what income you'll need in the future to maintain your lifestyle.
All calculations use sample data for demonstration purposes
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Frequently Asked Questions
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