Non-Monthly Expenses Calculator © 2008 by Jan D. Andersen & Aaron J. Andersen

Instructions

Complete the "Non-Monthly Expenses Worksheet" below by entering a brief description of each expense, and the amount(s) in the appropriate month column(s). For example, if you pay half of your $600 car insurance in February and the other half in August, your entry would be as follows:

After you have completed the worksheet, click the "Update Results" button below the worksheet. Then review Options 1, 2, and 3 below the worksheet.

Results

Option 1: Handle each expense in the month it comes due. The non-monthly expense totals are indicated in the bottom row of the worksheet. With this option you will have to do one or more of the following each time a non-monthly expense comes due: don't pay the expense (not recommended), have someone else pay the expense, cut/trim spending in other areas (like food or entertainment), liquidate existing assets, increase your income, or use credit to pay the expense. Under Option 1, a set-aside account is not used; that is, no money is set aside in advance to cover non-monthly expenses.

Option 2: Lump-Sum, Catch-Up Amount. Pick the column below that corresponds to the month in which you are beginning your set-aside account. The first value in that column represents the amount that you will need to set aside during the beginning month before that month's expenses are paid. Each month after the beginning month, you will set aside the "Total Monthly Set Aside" amount indicated in the Non-Monthly Expenses Worksheet above.

Option 3: Catch up by setting aside a little extra each month. Pick the column below that corresponds to the month in which you are beginning your set-aside account. The values in that column represent the amounts that you must set-aside each month throughout the next year. After the12th month, you will set aside the "Total Monthly Set Aside" amount indicated in the Non-Monthly Expenses Worksheet above.

Send comments and suggestions to:  comments@SavingYourFuture.org