Cost of Living Calculator – Compare Cities and Plan Your Budget
This Cost of Living Calculator helps you understand how your expenses, salary, and lifestyle change from city to city. You can compare cost of living indexes, break down your monthly expenses, estimate equivalent salaries in another city, and check if your current budget is sustainable.
City Comparison and Cost of Living Indexes
A cost of living index is a relative number that compares how expensive it is to live in one place versus another. If City A has an index of 80 and City B has an index of 100, it means City B is roughly 25% more expensive than City A for the same basket of goods and services.
Salary Equivalence Between Cities
To maintain a similar lifestyle when you move, your salary often needs to scale with the cost of living. The calculator uses a simple proportional formula based on the indexes you enter:
This does not capture every detail (such as taxes or personal spending habits), but it gives a quick estimate for salary negotiations or relocation planning.
Monthly Expense Breakdown
The Expense Breakdown tab lets you enter detailed costs for housing, utilities, food, transportation, healthcare, education, entertainment, and miscellaneous spending. The tool then calculates your total monthly and yearly cost, and shows which category dominates your budget.
Lifestyle Affordability and Savings Rate
A common rule of thumb is to aim for at least 15–20% of your income going to savings and long-term goals. The Lifestyle Affordability tab compares your estimated monthly expenses with your salary and target savings rate:
- High savings rate and surplus cash suggests a comfortable lifestyle.
- Moderate savings rate suggests a balanced but watchful lifestyle.
- Little or negative savings suggests your current cost of living may be too high.
Custom Cost of Living Model
Not everyone spends money in the same way. The Custom Categories tab lets you build your own cost of living model. Add as many categories as you like and see the total monthly and yearly cost based on your unique lifestyle.
Use this Cost of Living Calculator to plan relocations, negotiate salaries, or simply understand where your money goes every month. Try more free calculators on MyTimeCalculator for finance, fitness, health, math, and online science tools.