How much Household Budget does it take to feed , cloth, and shelter four people? Plus, have a bit of free time to yourself?
One household budget of a family member with four living under the roof is $65,000.
Here are the basics :
NO Cable , No Cell Phone Bill (They have one cell phone but it is a gift and paid for as a gift) (Our folks have put this phone on as part of the family plan)
No Health Insurance (I don’t know what they will do with OBama Care but this is the way it has been)
One Car (It is paid for so total cost of the car $3,500 for the year) ( A gift from our folks)
All Household supplies are $14,500 for they year All Food as well
Entertainment budget Including all gifts $600
All Clothing $600
Professional cost (Business cost etc. $6000 / This includes everything they buy for the home office as well , Paper clips, rubber bands, scotch tape, paper for printer, printer ink)
Life Insurance Policies and Renters insurance Policies: $12,300 (This includes self insuring health and dental and professional insurance that is needed)
Total cost one car no frills budget for any one for any reason : $65,000
They live on the edge and they have no vacations almost no time off and almost nothing saved.
This is a real life budget in America now.
There is no wiggle room!