Before you contemplate borrowing money, you will need to take a look at what you are spending each month to see if you are 'living within your means" or if you are having to borrow money each month. This calculator is designed to help you to look constructively at how much you are spending and compare that with how much you are earning.

To begin, add up all your recurring bills over the past year and devide by 12 to get a monthly avereage. These are things like mortgage and insurance bills, utility bills, food, gasoline, car payments, alimony and so on. In addition, keep track of additional monthly expenses like lunches out, entertainment, clothing etc. Even if you don't write everything down, you will begin to see where your money is going.Then, fill in the calculator below with the figures you have collected and the calculator will help you to see how you are doing.

Income
Regular Income - Enter you normal monthly income here. If you are married add your income and your spouses.
Other Income - Enter any extra monthly income you might make from a night job, royalties, etc.
Expenses
Rent or Mortgage - Enter your monthly rent or mortgage bill here.
Car Payment - If you have a car loan(s), enter the total monthly payment(s) here.
College loans - If you are making payments on a college loan, enter the payment here.
Other loans - If you make monthly payments on other loans for furniture, boats, appliances, etc., enter the total monthly payments here.
Insurance - If you make monthly payments on any type of insurance, enter the amount here (do not enter insurance policies that you pay yearly or every six months, as they will be on the hidden expense calculator).
Groceries - Enter the amount you spend per month on food at the grocery
Eating Out - Enter the amount you spend per month on food at restaurants, vending machines, etc.
Gasoline - Enter the amount you spend per month on gasoline
Electricity - Enter your average monthly electric bill here.
Gas - Enter your average monthly natural gas bill here.
Water/Sewer - Enter your average monthly water bill here
Telephone - Enter the amount you spend on local and long distance phone service per month
Clothing - Enter the amount you spend on clothing per month
Habits - If you smoke, play the lottery, etc. on a regular basis, enter your average monthly expenses here.
Cable TV - If you have cable enter your monthly bill here.
Cellular phone or beeper - If you have a cell phone or beeper and pay a monthly bill on it, enter the bill here.
Entertainment - Enter you average monthly expenditure on entertainment: movies, videos, nightclubs, shows, music (CDs and tapes, concerts, etc.), Internet, video games, etc.
Medical - If you spend money monthly for medicine, treatment or medical insurance, enter the amount here.
Other - Enter here anything else you can think of that you typically pay on a monthly basis.
Hidden Expenses - Use the Hidden Expense Calculator to calculate your total hidden expenses, and enter the monthly number from that calculator here.
Click this button to calculate the total.
Total Income - This is your total income per month
Total Expenses - This is the total amount of money you spend per month on expenses.
Loss or gain - This number is total income minus total expenses, and indicates your loss or gain each month. A positive number indicates that you make more than you spend and therefore are able to save money each month. A negative number indicates that you spend more than you make and are therefore borrowing money each month.

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