MomtoCandJ Posted September 22, 2013 Share Posted September 22, 2013 Thought this was interesting :) http://billmoyers.com/2013/09/18/why-is-the-federal-poverty-line-so-low/ http://www.epi.org/resources/budget/ According to this site we need about twice as much dh makes. Quote Link to comment Share on other sites More sharing options...
Joyofsixreboot Posted September 22, 2013 Share Posted September 22, 2013 It only goes up to three children which we would have enough for. Now to get rid of the other four kids... Quote Link to comment Share on other sites More sharing options...
HRAAB Posted September 22, 2013 Share Posted September 22, 2013 Good grief, if our expenses were that high we would be in huge trouble - like bankrupt and homeless. Quote Link to comment Share on other sites More sharing options...
garddwr Posted September 22, 2013 Share Posted September 22, 2013 I too am in the boat of having too many children. Obviously I have a surplus that should be donated... Quote Link to comment Share on other sites More sharing options...
AimeeM Posted September 22, 2013 Share Posted September 22, 2013 I find this interesting. I know that the average income of our area is about half what the estimated monthly expenses are, according to the calculator, for a family of 5 (like ours) in our area. Quote Link to comment Share on other sites More sharing options...
Murphy101 Posted September 22, 2013 Share Posted September 22, 2013 Lolol I have a surplus of 7 more kids and we still squeak by on about $20,000 LESS than what it says we would need for a family of 5! Quote Link to comment Share on other sites More sharing options...
DawnM Posted September 22, 2013 Share Posted September 22, 2013 Here is what it says for us. However, I am not sure where we could find housing with property taxes and utilities for anywhere near $1,069 Monthly costs for a family with 2 parents and 3 children, North Carolina Housing $1,069 Food $921 Child Care $1,460 Transportation $607 Health Care $1,488 Other Necessities $509 Taxes $568 Monthly Total $6,622 Annual Total $79,468 Quote Link to comment Share on other sites More sharing options...
carriede Posted September 22, 2013 Share Posted September 22, 2013 The budget does not address savings! My DH and I take 20% off the top for general savings and retirement. That would never work with that proposed budget. Eta: I know 20% may be excessive when discussing poverty, but the budget summary says its judging economic security (or something like that), so I think some savings should be considered, at least for emergencies. Quote Link to comment Share on other sites More sharing options...
elegantlion Posted September 22, 2013 Share Posted September 22, 2013 It also makes the assumption I would pay 870 for health insurance when my housing is only 633. But hey, I'll just grab that savings from child care. My I'm-in-a-rotten-mood viewpoint of those simply budget calculators is they want to get people used to the idea that health care should cost more than your housing expenses.Oh, it was on an Internet calculator, it must be true. Quote Link to comment Share on other sites More sharing options...
bethben Posted September 22, 2013 Share Posted September 22, 2013 For Christians who tithe, that's another 10% or more...I guess it made me realize the income my dh is trying to obtain really is well within our needs and not at all extravagant. Beth Quote Link to comment Share on other sites More sharing options...
MomtoCandJ Posted September 22, 2013 Author Share Posted September 22, 2013 At this point we are still trying to figure out if it would do any good for me to back to work in 5 years. Sometimes it seems the more you make the harder thing are, you make too much for help but not really enough to have any sort of cushion or the extra money would be eaten by extra expenses. Quote Link to comment Share on other sites More sharing options...
Arcadia Posted September 22, 2013 Share Posted September 22, 2013 There is an old thread about thr EPI family budget calculator. Thought you might want to read the responses in that thread too. http://forums.welltrainedmind.com/topic/481696-try-this-family-budget-calculator-limited-to-us Quote Link to comment Share on other sites More sharing options...
Wheres Toto Posted September 22, 2013 Share Posted September 22, 2013 They don't have my county as an option and none of the other ones quite match (some would be too high, some too low) but I picked what I thought was closest. The housing came out right, if it includes homeowners insurance, as well as property taxes. The childcare number seems to assume at least two of my three children are infants. Not needing childcare, and paying less for healthcare with insurance through work, actually brings the needed income pretty close to what I actually make. ETA: Here's what it comes out for me. Why yes, I am in a high COL area, what makes you ask? :glare: Housing $1,843 Food $921 Child Care $1,739 Transportation $607 Health Care $1,620 Other Necessities $708 Taxes $780 Monthly Total $8,217 Annual Total $98,602 Quote Link to comment Share on other sites More sharing options...
jenncslp Posted September 22, 2013 Share Posted September 22, 2013 No wonder I'm not making it!!! Quote Link to comment Share on other sites More sharing options...
Mandylubug Posted September 22, 2013 Share Posted September 22, 2013 Says we should bring home double what DH does :( he works double shifts weekly just to make our bills. It estimated we should pay 900 in groceries for my area. That would be right at double our budget for food. Quote Link to comment Share on other sites More sharing options...
mom2scouts Posted September 22, 2013 Share Posted September 22, 2013 Wow, according to that, we need to make almost four times as much as we're living on now. Quote Link to comment Share on other sites More sharing options...
HRAAB Posted September 22, 2013 Share Posted September 22, 2013 Now that I've looked at the numbers with a calm mind, I have to admit they might not be that far off. The total, however, is quite a bit higher than the average pay in this area, but then again, most families I know have two working adults. I still think they're a little high for a modest, secure lifestyle, but then my idea of modest and secure has always been different from most people I know. The only thing that saves us is we're debt free, no mortgage, and I have the cheapest, crappiest insurance available and never go to the doctor - so thankful I have healthy children. I also noticed they didn't account for savings/401Ks. I think that would be part of a secure lifestyle. No wonder we've been feeling quite a pinch lately. Quote Link to comment Share on other sites More sharing options...
Ravin Posted September 22, 2013 Share Posted September 22, 2013 $68k. And frankly, the housing cost is off. We live on a lot less, even factoring in SNAP and Medicaid. With health benefits the job I hope to get after graduation will put us close to that line. Compared to where we're at now, it'll be downright comfortable. Quote Link to comment Share on other sites More sharing options...
BlueTaelon Posted September 22, 2013 Share Posted September 22, 2013 Wow, according to that, we need to make almost four times as much as we're living on now. That's what I'm seeing too. I have NEVER made that much and I have no hope of making that anytime soon. Heck I would feel totally rich if I even made half what they suggest. Quote Link to comment Share on other sites More sharing options...
Mergath Posted September 22, 2013 Share Posted September 22, 2013 I found the EPI calculator to be pretty accurate for my area. I'd categorize us in the "secure but modest living" group at this point, and it spit out almost the exact amount we pay for housing and food, within five dollars for each, and if I deduct the childcare, which we don't need, it's pretty close to what dh makes. But it says we should be paying nearly $1,400 a month for health care, which is just insane, and I know we pay more in taxes than it's listing. Quote Link to comment Share on other sites More sharing options...
kiwik Posted September 22, 2013 Share Posted September 22, 2013 It reminds me of the budget shows we had here a few weeks ago. The people were hopelessly in debt but by making a few relatively minor adjustments they could save more a week than i earnt working full time (and i was in a reasonable job). I just hate it when people tell me i can't live on what i have - so depressing and unhelpful. Quote Link to comment Share on other sites More sharing options...
AHASRADA Posted September 22, 2013 Share Posted September 22, 2013 Mine was very accurate. We spend a bit more on food and a bit less on housing, so that evened out (in fact, we spend the same amount on both housing and food). The total income seemed high, but if I subtract the childcare we don't need, it was about right (75k). Sure, people can and do "survive" on less, but this is the amount needed to be stable and secure, not simply avoiding homelessness and malnourishment. Considering a stable and secure lifestyle includes adequate food and housing, medical care, transportation, clothing, etc. on a consistent basis, plus a bit of savings for emergencies, I think the estimate is spot-on. People making less aren't necessarily in "poverty", but could certainly benefit from some assistance. Those are the "working poor" being failed by the current system. Quote Link to comment Share on other sites More sharing options...
Leav97 Posted September 22, 2013 Share Posted September 22, 2013 Housing - 1123 Food - 921 Child care - 1881 transportation - 603 Health care - 1493 Other - 523 Taxes - 682 If I take out child care (although having a parent stay home isn't free) and health care through my employer is 500, it's not too far off. That's almost 3K difference because of those 2 things. Quote Link to comment Share on other sites More sharing options...
beaners Posted September 22, 2013 Share Posted September 22, 2013 It lists us as spending $800 more on healthcare than our insurance costs. Even assuming $100 a month for various co-pays or prescriptions, which is more than we average, that is an extra $8,400 a year. Childcare is $15,600. I'll be generous and say that we spend $600 a year on the two or three occasions we might need a babysitter. That is still $23,000 more than we spend. That's more than a lot of people live on, just in the difference between actual and estimates! Their transportation costs were higher than our actual, despite my husband driving an hour each way for his commute. We don't have a car payment at the moment, so that could be accurate. Food costs were only slightly higher than what we are currently spending, but our costs would drop considerably if we cut back on the wine, tea, and cheese purchases. (And we have recently for just that reason!) Adjusting for that, we would need around $50,000. We make enough to cover that, although we could easily have found a cheaper place than what we own with the surrounding land. This same place on a tiny lot around here would only be a couple hundred dollars a month. That would lower our bills significantly. Quote Link to comment Share on other sites More sharing options...
laughing lioness Posted September 22, 2013 Share Posted September 22, 2013 We make about 5K more than it says we should make- we drive carp cars, have carp insurance and don't pay child-care- plus our 2 oldest no longer live with us. Yeah, crazy when we are making so much that we pinch every penny till is screams for mercy and we have no savings or retirement and work our tails off to make ends meet. Quote Link to comment Share on other sites More sharing options...
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