Financial Tools

How does inflation impact my standard of living?

Inflation can erode purchasing power. For example, a dollar today cannot buy the same amount of goods and services it could 20 years ago. It will continue to erode purchasing power in the future. Use this calculator to determine the impact inflation may have on your standard of living.

Assumptions Number of years for the analysis   Estimated inflation rate (%) Monthly or annual figures? Monthly Annual   Expenses Mortgage payment or rent ($)   Vacation home (mortgage) ($)   Automobile loan(s) ($)   Personal loan(s) ($)   Charge accounts ($)   Federal income taxes ($)   State income taxes ($)   FICA (social security taxes) ($)   Real estate taxes ($)   Other taxes ($)   Utilities ($)   Household repairs and maintenance ($)   Food ($)   Clothing and laundry ($)   Educational expenses ($)   Child care ($)   Automobile expenses (gas, repairs, etc.) ($)   Other transportation expenses ($)   Life insurance premiums ($)   Homeowners (renters) insurance ($)   Automobile insurance ($)   Medical, dental and disability insurance ($)   Entertainment and dining ($)   Recreation and travel ($)   Club dues ($)   Hobbies ($)   Gifts ($)   Major home improvements and furnishings ($)   Professional services ($)   Charitable contributions ($)   Other and miscellaneous expenses ($)

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