Family of Four Expenses
Food: $7,250
Transportation:
Housing and utilities: $17,000
Medical: $3,600
Daycare: $14,000
Clothing: $5,000
School Supplies/miscellaneous children expenses: $1,500
Entertainment: $4,000
Total: $43,350
$21,237 over budget
The budget I came up with for a family of four is much higher than the poverty line in the U.S. This gap forces families to cut necessities. After entertainment, the food budget may be cut in order to make ends meet. Cutting a food budget is difficult, but it can be done. If the food budget was lower, the food that the family could afford wouldn't be as healthy. Fresh fruits and vegetables are very expensive. A good bag of grapes or a package of strawberries can be $3-$6, a bag of fresh spinach is about $4. With fresh fruits and vegetables so expensive, it would be much cheaper for the family to eat unhealthy processed food. A family of 4 can eat a fast food dinner for 1/3 of the price as a healthy home cooked meal. Cutting the food budget results in unhealthy eating and health risks. Cutting transportation costs is another option. If the transportation budget is cut it will make work, school, education, and entertainment scheduling difficult. If the schedules don't work out, then the families' income could decrease, social lives will decrease, and the childrens' education could decrease. If the family cut the health care budget the families health would be at risk. Cutting the health care budget could result in missed work, serious illness, and countless other issues that would decrease the families' quality of life. In all reality, any part of this budget could decease, but the quality of life would also decrease significantly.
The budget I composed doesn't include any savings. Without having any savings it makes it harder for the children to be able to afford college. It is very difficult to attend college without any financial help from parents or other relatives. Without being able to afford an education, the opportunities that the children will have in the future decrease significantly. The entertainment budget would be the first cut the family would make in order to afford food and shelter. With out an entertainment budget the children won't be able to do sports and other social activities. This will decrease the childrens' social lives and make them feel isolated. The family's necessities are already double the poverty line; the well-being of this family is at risk.
Living in poverty, or close to poverty, gives the family a low quality of life. The stress of trying to make ends meet is enough to destroy the parents' quality of life. This family is forced to cut necessities which decreases the well-being of the entire family. The children will have lower education, lower health care, and lower opportunities in life.
You made some good points. I would be concerned about cutting the food budget because of malnutrition risks. I would also talk about alternatives for cutting costs.
ReplyDeleteI had a few different needs than you have but you explained well enough to make your choices and prices reasonable. I agree that food is a definite thing for any human beings and more expensive meals tend to be more healthier than cheap ones. Eudcation is also very important to raise children well that children who got some poor education tend are more likely to misconduct some crime than children who got more educated. I like what you described in the last paragraph that living in a poorer situation gives the family a lower quality of life. It was good reading.
ReplyDeleteVery thoughtful, great post. You went into really good detail. I think more emphasis on the children and how they would be affected would make this a little stronger.
ReplyDelete