<topic sku="dlxbiz" tNum="287177" author="leighanw" xmlns="x-schema:hhTopicSchema.xml"><index><title>Learn about the Living Expenses page in the Lifetime Planner</title><category>lifeplan</category><klink type="cncpt">Tell me about the Living Expenses page in the Lifetime Planner</klink></index>
<content>
<p>The <emph>Living Expenses</emph> page shows your current annual living expenses and lists events that will require you to adjust the amounts. Living expenses include costs for food, housing, clothing, entertainment, and other day-to-day expenses.</p>
<p>Over the course of your life, events such as the arrival of a baby, taking care of an elderly dependent, or your retirement will change your annual living expenses. The <emph>Living Expenses</emph> chart shows how your expenses will change based on events you add on this page.</p>
<p>On the <emph>Living Expenses</emph> page, you can:</p>
<ul>
<li>Define your current annual living expenses.</li>
<li>List lifetime events that will increase or decrease your living expenses.</li>
<li>See a chart of how your living expenses will change over time. You can display this chart using today's dollars (hide inflation) or future dollars (show inflation).</li>
</ul>
</content>
<footer>
<extend>
<tease>How do I view the <emph>Living Expenses</emph> page?</tease>
<reveal>
<ol>
<li>On the <emph>Planner</emph> menu, click <emph>Lifetime Planner</emph>.</li>
<li>In the left pane, click <emph>Expenses</emph>, and then click <emph>Living Expenses</emph>.</li>
</ol>
</reveal>
</extend>
<extend>
<tease>What's the difference between living expenses and college & other expenses?</tease>
<reveal>
<p>Living expenses are day-to-day expenses that you will have no matter what. Food, housing expenses, car payments, and so on fall into this category.</p>
<p>College & other expenses are special expenses you're anticipating that are either short-term or one-time expenses. For example, a college expense is a short-term expense because it lasts only a few years. A wedding, vacation, and hospital expenses are one-time expenses.</p>
</reveal>
</extend>
<extend>
<tease>Is everything I pay for considered part of my living expenses or a special (college & other) expense?</tease>
<reveal>
<p>No. Loan and debt payments, such as what you pay monthly toward your mortgage, are not considered expenses. Neither are savings contributions, life insurance payments, or taxes.</p>
<p>Expenses that you associate with your home or an asset are reflected here. You can, of course, adjust the income and expenses related to a house or asset. <alink type="prcdr" href="Changetheincomeandexpensesrelatedtoahouseorasset.xml"/></p>
</reveal>
</extend>
<extend>
<tease>The Living Expenses forecast graph shows my living expenses equal to zero. Why?</tease>
<reveal>
<p>You have not yet entered an amount for your annual living expenses. Do this first, and then identify life events that will require adjustments to those expenses.</p>
