Does Snap Projections have a budget sheet to itemize Base Expenses?

For a variety of reasons, we find that it can be ineffective to add up all of your client's expenses and then try to match this to the Base Expenses amount.  Instead, we take the approach of focusing on what your clients are saving.  If they aren't saving anything, then they are spending all of their after-tax cash.

If your clients do wish to work on a budget, we recommend that they sign up for a free program like mint.com, which will tell them where their money is going and what their current expenses are.  The Government of Canada also has a helpful budget calculator tool.

You can use Snap Projections to find out the overall amount that your clients are spending each year in after-tax cash. Delay automatic cash-flow management by selecting a year for the CFM Start Age. Enter any annual savings that the clients are making as a contribution to each applicable account.  

The Base Expenses column displays the remaining cash that is available after these savings contributions are made, taxes are paid, and any other expenses that have been entered into the projections are paid (such as insurance premiums and mortgage payments). This entire after-tax spending amount is assumed to be spent.  

The client's current cash flow can be used as a basis for their future needs.  You may choose to enter the same Base Expenses amount at retirement and allow it to automatically increase with inflation, as shown in the Base Expenses (nominal dollars) column, or enter a different spending amount depending on your client's retirement goals.  If there are any one-time, or additional expenses such as travel expenses, vehicle purchases, renovations, etc., they can be entered directly into the projections as well as Additional Expenses.