Budgeting is essential as it consists of forecasting expenses, drawing a spending plan based on income and expenses. In other words, it’s an estimate of how much money you’ll make and spend over a certain period of time, such as a month or year. This is why knowing the cost of living is so important.
Developers need a reliable basis to develop tools for their clients to make it easier for them to budget assets and liabilities. A cost of living and average prices software can pave the way for them.
Looking for a way to get a good estimate of the cost of living in any city or a country throughout the world? Keep on reading to find out the most outstanding benefits of the Cities Cost of Living and Average Prices API, and about the importance of using it for budgeting.
To plan expenses and avoid surprises, the best approach is to know how much each city’s cost of living is, in an automated way, with accuracy and up-to-date information. The API supports more than 8000 cities, this API will provide accurate information about the cost of living and prices in those cities. It retrieves all the supported countries in this API.
The application has 4 endpoints:
- GET COUNTRIES: It retrieves all the supported countries in this API.
- GET CITIES BY COUNTRY: This endpoint will retrieve all the supported cities in a given country.
- COST OF LIVING BY COUNTRY: This endpoint will retrieve the average cost of living in a certain country. This endpoint will calculate the average prices and cost of living across the given country.
- COST OF LIVING BY CITY: This endpoint will retrieve the average prices and cost of living for the desired city.
The API includes multiple indexes like groceries, purchasing power, rent, food, rental, transportation, education, and all basic expenses. It supports 35 different currencies that can be expanded at once upon request to the provider. All data is updated on a daily basis.
Individuals will find this API useful as it will allow them to prepare and oversee a short or long term plan that estimates income and expenses for a certain period. It`s good for family economy or for travelling.
In the case of businesses or companies, budgeting is a process of looking at a business’ estimated incomes (the money that comes into the business from selling products and services) and expenditures (the money that goes out form paying expenses and bills) over a specific period in the future.
In both cases, the two main objectives of budgeting are as follows: a) predicting cash flows, and b) measuring performance.
How To Get Started
Counting on a subscription on Zyla API Hub marketplace, just start using, connecting and managing APIs. Subscribe to Cities Cost Of Living And Average Prices API by simply clicking on the button “Start Free Trial”. Then meet the needed endpoint and simply provide the search reference. Make the API call by pressing the button “test endpoint” and see the results on display. The AI will process and retrieve an accurate report using this data.
Cities Cost Of Living And Average Prices API examines the input and processes the request using the resources available (AI and ML). In no time at all the application will retrieve an accurate response.
If one´s planning a holiday in France, for example, then insert the name of the country and in seconds the API will output a thorough report that will include all the necessary information for the user to have an accurate idea of how much they´ll be spending over a certain period. The following is an extract of the full response, which will look like this:
{ "Version": 1, "Country Name": "France", "City Name": "", "Cost of Living Month Total": "1470.82", "Currency": "USD", "Note": "Total cost of living in France for two person with average consumption for one month will be 1470.82 USD, no rent price included", "Status": 200, "Success": true, "Restaurants prices": [ { "Cost": "Meal in Inexpensive Restaurant", "Value": "14.21" }, { "Cost": "Meal for 2 People, Mid-range Restaurant, Three-course", "Value": "59.22" }{ "Cost": "Coca-Cola, 0.33 liter Bottle", "Value": "2.76" } ], "Markets prices": [ { "Cost": "Water, 0.33 liter Bottle", "Value": "1.79" }, { "Cost": "Milk, Regular,1 liter", "Value": "1.13" }, { "Cost": "Loaf of Fresh White Bread, 0.5 kg", "Value": "1.61" }, { "Cost": "White Rice, 1 kg", "Value": "2.01" }{ "Cost": "Bottle of Wine, Mid-Range Price", "Value": "7.11" }, { "Cost": "Domestic Beer, 0.5 liter Bottle", "Value": "1.95" }, { "Cost": "Imported Beer, 0.33 liter Bottle", "Value": "2.14" }, { "Cost": "Pack of Cigarettes", "Value": "8.29" } ], "Transportation prices": [ { "Cost": "One-way Ticket, Local Transport", "Value": "1.89" }, { "Cost": "Monthly Pass, Regular Price", "Value": "66.33" }