Question 1

Should I have children? How much do children cost?

Accepted Answer

Use Money Model to create financial scenarios comparing your future with and without children. Model the additional expenses of raising children over time and see how it impacts your long-term financial projections. Compare multiple scenarios side-by-side to make an informed decision.

Question 2

Should I rent or buy a house?

Accepted Answer

Money Model helps you compare the financial impact of renting vs buying a home. Create separate scenarios for each option, modeling mortgage payments, property taxes, maintenance costs, and potential appreciation. Compare your net worth projections over time to see which option works better for your financial situation.

Question 3

How do I compare different financial scenarios?

Accepted Answer

Money Model allows you to create multiple financial scenarios and compare them side-by-side. Each scenario can model different income, expenses, investments, and life decisions. The tool provides year-by-year projections and Monte Carlo simulations to show uncertainty ranges, helping you visualize the long-term financial impact of different choices.

Question 4

What major life decisions can I model financially?

Accepted Answer

Money Model helps you model the financial impact of major life decisions including: having children, buying vs renting a home, career changes, retirement planning, investment strategies, and more. Create separate scenarios for each option and compare your projected net worth over time.