Do you spend money on some or all of the above items? If so, you may need to cut down on your spending. That's where the
expense calculator comes in handy. In order to precisely know how much money you are spending each month, use HelpSaveMyDollars.com's
Expense Calculator. Simply enter in your take-home income each month (income after taxes are paid), followed by all of your
monthly expenses, which are categorized on the spreadsheet. The spreadsheet will then subtract all of your expenses from your
take-home pay (which is equal to your savings). Once the spreadsheet has completed its calculations, scroll down for more information
on understanding your results and how you can reduce or eliminate your deficit.
Understanding Your Results
If the calculator reveals that you're in a deficit, don't panic! HelpSaveMyDollars.com
is here to help you get rid of that deficit. Carefully examine each of your expenses that you plugged into to the calculator.
Determine which of your expenses are "needs" and which ones are "wants". Say to yourself, "Do I really need to spend $25 a month
on a gym membership? Can I walk to work instead of paying for the bus or subway?" Once you figure out which expenses are
"wants", delete all of the "wants" from the calculator, re-calculate the spreadsheet and you will see that deficit either significantly
decrease, or hopefully turn into a surplus! After that, the most important way to reduce or eliminate your deficit is to not
spend money on those "wants". It's one thing to say you're not going to spend money on fancy clothes or a more expensive cell
phone (examples of "wants") but it's another thing to actually follow through with your promise. Also, always refer to HelpSaveMyDollars.com's The
20 Laws of Saving Money to help make your deficit disappear. This will take time, but if you're serious about saving money, it can be done!
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