Doomsday Tracker
The "Doomsday Tracker" template helps you estimate how long your savings will last if your income were to stop today. With this simple but powerful tool, you can calculate how many months your current savings would cover your living expenses. This template is ideal for understanding your financial runway in emergency situations or when planning for periods without income.
Purpose:
The "Doomsday Tracker" is designed to provide a clear estimate of how long your savings will sustain you based on your current assets and monthly expenses. This tool is essential for anyone seeking peace of mind about their financial future, especially in times of uncertainty. By regularly updating your assets and expenses, you can make informed decisions about budgeting, saving, and cutting costs when needed.
How to Use This Template:
Import this template to your account.
Input Your Assets and Expenses:
In the "Total Assets" and "Average Monthly Expenses" sections, input your current savings and living expenses to get an accurate estimate of how long your savings will last.
Customize the Formula (Optional):
Hover over the block and click the menu icon in the top-right corner. Select "Edit."
In the right-side drawer panel, go to the "Metrics" section.
Adjust the formula by replacing the variables with your current financial data or by connecting it directly to your bank accounts for live tracking.
Monitor Your Progress:
Use the "Months Remaining Calculator" to track how many months your savings can cover your expenses. Update the data as your financial situation changes.
Tips:
Regularly update the inputs to maintain an accurate projection of how long your savings will last.
Consider adding additional expenses, such as debt payments or annual costs, to get a more precise estimate.
The "Doomsday Tracker" gives you the insight needed to plan for unexpected situations, ensuring that you're prepared and in control of your financial future.