But fixed utilities, such as electric and gas, and variable costs, such as dining and household goods, often fluctuate month-to-month, so you'll need to do some math to find the average.įor these categories and any where you spending changes from month-to-month, determine the average monthly cost by looking at three months worth of spending.
For example, debt repayment on a mortgage or auto loan will cost the same each month. You can look up your spending on bank and credit card statements.įixed expenses are easier to list on your budget than variable expenses since the cost is generally the same month-to-month. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.After you separate fixed and variable expenses, list how much you spend on each expense per month. Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator.
#BUDGET MONTHLY EXPENSES PROFESSIONAL#
You should speak with your professional accountant or other professional advisors before making a final decision to ensure any strategy meets your overall financial needs and that your personal circumstances have been taken into account. This calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. Personal lending products are subject to Royal Bank of Canada's standard credit criteria.
Consolidate debt if possible and lower monthly payments.Create a budget or review an existing one, providing advice on cost-savings.Total Expenses - Variable & DiscretionaryĪn RBC ® credit specialist can work with you to: Other Discretionary Expenses (donations, vacation, etc) Other Variable Expenses (Uninsured Medical, Pet expenses including veterinarian, Tuition/fees/books, dry cleaning, subscriptions, etc) Personal care (clothing, gifts, salon, memberships, sport & leisure activities, etc)
#BUDGET MONTHLY EXPENSES LICENSE#
Transportation (car lease/loan payment, gas, transit, service & repairs, parking, license & registration, etc) Monthly Expenses - Variable & DiscretionaryĮntertainment (dining out, movies, concerts, shows, etc) Other Fixed Expenses (Payroll deductions -if not already included elsewhere - insurance, pension, RSP, charitable donations. Long Term Savings (Pension, RSP, TFSA, RESP, etc) Loans, Lines of Credit and Credit Cards (monthly payments on existing credit) Insurance (auto, home, life, disability, medical/health)Ĭhild Care (daycare, nanny, child support, etc) Home Services (home and mobile phone, cable/internet, satellite radio, home security, etc) Utilities (gas, water, electric, heat, sewer etc) mortgages, rent, condo/maintenance fees, property taxes, lawn care and supplies, snow removal, renovations, cleaning and supplies, etc) Monthly Salary (after deductions for taxes, company pensions, CPP, OAS, EI) You'll be able to determine how much debt you can comfortably afford in order to achieve your goals. Use this tool to help give you a clear picture of your cash flow.
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