See How Much Money it Takes to Be Financially Secure in Your Town

An interesting exercise – here’s my results:

Rural (CO) – One Parent, One Child

  • Monthly Housing $774
  • Monthly Food $369
  • Monthly Child Care $728
  • Monthly Transportation $570
  • Monthly Health Care $1000
  • Monthly Other Necessities $292
  • Monthly Taxes $399
  1. Monthly Total $4132
  2. Annual Total $49581

Does anyone else find it curious that Taxes and Healthcare combined result in more expenditure than Housing and Food?

Data Driven Viewpoints

What follows is a Family Budge Calculator put out by the Economic Policy Institute. The example shown here is for a two parent family with two children living in the capital city of New Jersey, Trenton. A typical family there needs over $75,000 in income per year to be financially secure. That means each parent would have to work full-time and be making at least $18/hour. Or, if only one parent worked, they would need to be pulling in $36/hour for their family to be financially secure. This is a long ways from minimum wage.

Family Budget Calculator

EPI’s Family Budget Calculator measures the income a family needs in order to attain a secure yet modest living standard by estimating community-specific costs of housing, food, child care, transportation, health care, other necessities, and taxes. The budgets, updated for 2013, are calculated for 615 U.S. communities and six family types…

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