Dear MoneyReadyApp users,

I was inspired by a letter I received from a user who uses the MoneyReadyApp to determine the long-term viability of his family's lifestyle.
(I posted it here https://www.moneyreadyapp.ca/blog/post/6.)
The EXPENSES tab is one some people stuggle with. Although it is optional to enter them in the MoneyReadyApp, it is recommended to enter at least your minimal living expenses so accounts can be withdrawn if necessary.
It's usually easy to tabulate your incomes and pensions, to know the current value of your investments, and so on. It's not so easy to understand how much money you spend or to predict how much you will spend in years to come.
Remember the TIME MACHINE attempts to satisfy this formula every year: Income - Savings - Expenses = 0.
In order to help get you started with EXPENSES, we now show you the amount of money available to spend this year as a guide.
We show you an approximation of Income - Savings - Expenses already considered elsewhere (e.g, taxes, loan payments) for the current year according to your inputs.
We think it will be helpful to guide your expenses and savings for this year and future years.
The calculation requires a mini TIME MACHINE run to calculate just the first year according to your inputs. For this reason, we have reorganized the left menu items in order to have the information necessary to get the estimate before you reach the EXPENSES tab.
Please read the Help for this page for a full explanation.
If you have any questions, comments or suggestions, please do not hesitate to contact me.

Elisabeth Tillier, Ph.D
Head of Money-Ready