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Cost of Living 2019 Calculator

Reviewed by Calculator Editorial Team

Understanding your cost of living is essential for budgeting and financial planning. This calculator helps you compare your 2019 expenses against national averages to identify areas where you might be overspending or underspending.

How to Use This Calculator

To use the cost of living 2019 calculator, follow these simple steps:

  1. Enter your monthly expenses for each category in the calculator form.
  2. Select your location (city or region) from the dropdown menu.
  3. Click "Calculate" to see your results.
  4. Review the comparison chart and interpretation notes.

The calculator will show you how your expenses compare to the national average for each category, helping you identify areas where you might need to adjust your budget.

Formula Used

The cost of living index is calculated using the following formula:

Cost of Living Index (COLI) = (Your Expenses / National Average) × 100

Where:

  • Your Expenses - Your monthly expenses for each category
  • National Average - The average monthly expenses for each category in your selected location

A COLI of 100 means your expenses match the national average. A COLI above 100 indicates you're spending more than average, while a COLI below 100 means you're spending less than average.

Worked Example

Let's say you live in New York City and your monthly expenses are:

  • Housing: $2,500
  • Food: $500
  • Transportation: $300
  • Utilities: $200
  • Healthcare: $300
  • Entertainment: $200

The national average for New York City in 2019 was:

  • Housing: $3,000
  • Food: $400
  • Transportation: $250
  • Utilities: $150
  • Healthcare: $250
  • Entertainment: $150

Calculating the COLI for each category:

  • Housing: (2,500 / 3,000) × 100 = 83.33
  • Food: (500 / 400) × 100 = 125
  • Transportation: (300 / 250) × 100 = 120
  • Utilities: (200 / 150) × 100 = 133.33
  • Healthcare: (300 / 250) × 100 = 120
  • Entertainment: (200 / 150) × 100 = 133.33

Your overall COLI would be the average of these individual indices, which in this case would be 112.22, indicating you're spending slightly above the national average.

Interpreting Results

When you receive your cost of living results, pay attention to the following:

  • Overall Index - This shows your overall cost of living compared to the national average.
  • Category Breakdown - Each category's index helps identify where you're spending more or less than average.
  • Comparison Chart - The visual chart makes it easy to see at a glance which categories are outliers.

Remember that a higher cost of living doesn't necessarily mean you're living better - it just means you're spending more on the same goods and services. Consider whether the additional expenses are worth the trade-off.

Frequently Asked Questions

What is the cost of living index?

The cost of living index is a measure that compares the cost of living in different locations. It helps you understand how much you're spending on essential goods and services compared to the national average.

How accurate is this calculator?

This calculator uses 2019 data and provides a reasonable estimate of your cost of living. For precise financial planning, consult with a certified financial advisor.

Can I use this calculator for international comparisons?

Yes, you can select different locations to compare your cost of living against national averages in those areas.

What if I don't have expenses for all categories?

You can enter expenses for the categories you have data for. The calculator will use those to provide a partial comparison.

How often should I check my cost of living?

It's a good idea to review your cost of living annually or whenever you notice significant changes in your expenses or location.