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A Penny Pincher, And Still Poor?

960 words - 4 pages

I chose to do my second exercise paper on “living on the outskirts of poverty: A balanced budget”. I am getting married this year and my fiancé and I have begun to start a tight budget for ourselves, so this assignment hit really close to home. Together we will make about the same as the couple in the example. If a couple was making roughly 18,924 a year, $1,577 a month, it would make it hard to live and enjoy life. I asked a lot of different people for their estimates on how much they pay for certain things, as well as looked up online for different examples and estimates.
My results where that for a two bedroom apartment in Bellbrook Ohio it would cost about $600.00 a month with water, sewage, and trash all included. Electric would cost the family an additional $125.00 every month. For two pre owned paid off cars, insurance would run them approximately $150.00 a month, and with gas prices up to about $4.00 a gallon, if work and shopping was all within fifteen minutes of them I estimated it would cost them about $384.00 a month. For Childcare for the preschooler, and afterschool care for the seven year old it would be about $544.00 a month. Healthcare would run about $1,400.00 for the entire family for a month. For Food, Clothing, extra’s, and entertainment it is roughly $880.00 a month. All this added up is approximently$4,008 a month an astonishing $48,096 a year. This is over two times the amount that the family makes together in a year.
With all this cost of living they have to make some drastic cuts. For example if they had a family member watch the children instead of having them in day care it would cut out $500.00 of their expenses every month. They could cut down their entertainment to once a month and take it down to $20.00 a month. Eating more bologna sandwiches and soups they could cut $100.00 off of food costs per month. The family also could shop for their clothes strictly at the thrift store, which would make it about $100.00 a month for the family to have clothes. By car pulling more, and walking to the stores when able, they could save about $150.00 a month. Taking all of this off would save them about $1070.00 a month which would bring them down to $2,938 a month, which is still extremely over budget. The only way I can possibly see it possible to bring it down, is to take out the health care costs and go to a free clinic just to get the children’s shots and required check-ups. With this off the list that would bring them down to $1,538. This is brings the total cost just under budget.
I don’t see any way around the figures that I have come up with. It is sad to think of all the family has to give up just to be able to pay bills on time. There will be no way to save any money making that amount as I did not...

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