Monthly Personal Expenses

Monthly personal expenses are typically expenses like restaurants, clothing, vacation/travel etc. These expenses can vary month to month so its best to estimate the average over a 12-month period. We will also use this information to benchmark against common personal finance guidelines.

These expenses can change quite a bit in the future so you can adjust your personal spending in future expenses snapshots like Retirement or by adding a new expenses snapshot. For example "Children" expenses might decline as children reach adulthood and leave the home. A new expenses snapshot can be added to capture this change in spending in the future.

This can also be helpful when you're anticipating changes to when anticipating an increase in vacation/travel in retirement.