Monthly obligation refers to the total amount of money that a borrower is required to pay each month towards their debts and other financial obligations. This can include payments for housing, installment debts, revolving debts, lease agreements, alimony, child support, and other recurring monthly obligations. The monthly obligation can be calculated by adding up all of these payments.

It is important to note that the term "monthly obligation" can also refer to other types of payments in different contexts. For example, in the legal and financial industries, it can refer to the monthly payment due from one party to another under a contract or agreement. In the case of child support, the monthly obligation refers to the amount of money that a non-custodial parent is required to pay to the custodial parent for the support of their child.

Overall, the term "monthly obligation" refers to the total amount of money that a person is required to pay each month towards their debts and other financial obligations.