How do I calculate the flow cost of living In the category Economics & Finance Many people are interested in knowledge and learning about many subjects, this knowledge may be vital at some point in your life, attention enough, and dive into more detail more articles and learn more information about How do I calculate the flow cost of living.
Your cost of living – a number that represents the amount of money required to support your lifestyle in a particular standard. To calculate your current cost of living, you can create a category for each of your recurring expenses subsistence level. You will usually need to search for all of the rental expenses and lay those you encounter for food and clothing. You can then view the account and bank statements from the past six months, and to sum up you ve paid for each category over this time period. the amounts in these categories to come up with the average total amount spent each month and add five percent to the total number of unexpected fluctuations; This final number – your total cost of living.
How do I calculate the flow cost of living
Your expenses subsistence level will probably include about 11 different categories of expenditure. You will probably need to search for your rent or mortgage and utilities, one for transportation and another for insurance. You may also be categories for child care, food and clothing costs. As you are preparing to make their calculations, you can also create a category for credit card debt and other loans as well as a separate category for entertainment, subscriptions, and the money that you put into savings. Additionally, you can create a category for miscellaneous expenses.
calculate the flow cost of living
Once you have created separate categories for spending the minimum subsistence level, you can proceed, assuming that the average number of monthly amounts you spend on each category. To make these calculations, we can consider bills, bank statements, and even consumption of notes you stored, and add the amount you spent in each category to obtain totals for each of the past six months. Then, you can count each category, taking the total amount you spent in each category over the past six months, and its six divisions. Finally, you can add the averages of each category to come up with the total number, which is your average monthly expense. You may have difficulty with the calculation of various costs, but adding that 15 percent to an average of your other monthly expenses – a good way to handle it.
In calculating the cost of your living wage it makes sense to take into account unexpected fluctuations in the amounts that must be paid. To do this, it is possible to add five percent to its average total number of monthly expenses. This total – your consumption of subsistence minimum.