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The Tim Ferriss Show: 200+ Million Downloads

Latest Episode:

"Jason Fried — How to Live Life on Your Own Terms (#329)"

Click to Listen

Monthly Expense Calculator

Before we add all of the ingredients that create your ideal lifestyle, it is important to calculate your baseline and subtract clutter that consumes income and attention. Use the below calculator twice:

  1. Where am I now? Input all of your current monthly expenses. If something doesn't fit in the below categories, add it into the "miscellaneous" total. This is a good snapshot of your outgoing cash-flow.
  2. Where should I be? Subtract all non-essentials that are no longer used or used infrequently. Eliminate all things that consume income or attention without enriching your life (subscriptions to magazines you don't read, memberships to services you don't use, seldom-driven but often-serviced cars, etc.). This new end total, multiplied by 1.3 to provide a 30% buffer, is the clean slate that we take to the next step—adding in all the elements and luxuries that define your ideal lifestyle.

Expense Calculator:

Rent/Mortgage [1]
Property Taxes
Education/Tuition
Credit Card Minimum Payments [2]
Car Payments
Other Loan Payments
Car Insurance [1]
Home Insurance
Life Insurance
Health/Dental Insurance
Telephone
Cable/TV
Heating/Electricity
Water
Gasoline
Public Transportation
Groceries
Eating Out
Subscriptions (Online and Offline)
Memberships
Miscellaneous

Total Spent for Month:

Dreamline Buffer: (x 1.3 for 30%)

Have the basic numbers? Now figure out how much your ideal lifestyle costs It's less than you think.

[1] Once you begin taking mini-retirements, many of these expenses can be replaced by cheaper expenses overseas, whether for one month or 24 months. I saved more than $32,000 by traveling through 20 countries for 11 months as compared to just sitting at home in northern California. Extended travel or relocation to dream locations is actually a popular Lifestyle Design tactic for increasing savings.

[2] Whenever possible, look at credit card statements and put the expenses in other categories, as ìcredit cardsî is too vague to be useful. This calculator should be used to determine exactly where youíre spending income.

Get Tim Ferriss' #1 New York Times bestselling guide to lifestyle design for less than $15.