Could you live on this Monthly budget?

[Póg mo 1,749]

I loathe such articles about personal financing. They are so unrealistic. To think someone got paid to make this budget up! Aaagh!

Well yeah, it is from a website created by Mcdonalds to help its workers supposedly live a better life. No doubt the person who wrote,had two jobs while at attending university and hence a natural expert on how the poor should live their lives.

[Harsh_77 718]

Well yeah, it is from a website created by Mcdonalds to help its workers supposedly live a better life. No doubt the person who wrote,had two jobs while at attending university and hence a natural expert on how the poor should live their lives.

Post #15 made some good points as well, some of these ppl working at these places made a choice either to drop out of school or hanging out with wrong crowd which lead them to here.

[JohnR! 5,495]

Post #15 made some good points as well, some of these ppl working at these places made a choice either to drop out of school or hanging out with wrong crowd which lead them to here.

How one got here has no bearing on the fact the budget shown is unrealistic. The price of gas, food, health, insurance is not indexed on one's degree or lack thereof.

Edited September 4, 2013 by Gegel

[DaveE 178]

Good grief - it is a "sample" on how to budget; not an actual budget. Did anyone read the actual link - they are just providing education on budgeting.

[Harsh_77 718]

How one got here has no bearing on the fact the budget shown is unrealistic. The price of gas, food, health, insurance is not indexed on one's degree or lack thereof.

These types of jobs were never meant to be mainstream, most of these jobs are supposed to be entry level jobs like for high school and college students with no responsibility or major bills to pay.

For a single person making a $1200 per month would be sufficient that would be $14,400 for a year that is almost double the standard deduction one gets every year.

Sorry I do not feel sorry for someone who know they themself are having hard time to make ends meet and yet choose to have 3-4 kids.

[JohnR! 5,495]

Good grief - it is a "sample" on how to budget; not an actual budget. Did anyone read the actual link - they are just providing education on budgeting.

They are just providing education on add and subtraction.

Their budget begins with disposable income and then addresses all the bills. In the real world if works the other way around. The 'budget' is kind of self fulfilling...

These types of jobs were never meant to be mainstream, most of these jobs are supposed to be entry level jobs like for high school and college students with no responsibility or major bills to pay.

For a single person making a $1200 per month would be sufficient that would be $14,400 for a year that is almost double the standard deduction one gets every year.

Sorry I do not feel sorry for someone who know they themself are having hard time to make ends meet and yet choose to have 3-4 kids.

In Douala, Cameroon; perhaps.

[Harsh_77 718]

They are just providing education on add and subtraction.

Their budget begins with disposable income and then addresses all the bills. In the real world if works the other way around. The 'budget' is kind of self fulfilling...

In Douala, Cameroon; perhaps.

You think $14k is not enough money for single individual?

You think $1200 per month is not enough for someone who is living with parents or room mates?

[JohnR! 5,495]

You think $14k is not enough money for single individual?

You think $1200 per month is not enough for someone who is living with parents or room mates?

I think it isn't. I know it isn't where I live. My kids cost me far more than that and they were kind of judicious with their money when they lived on my dime.

[Harsh_77 718]

I think it isn't. I know it isn't where I live. My kids cost me far more than that and they were kind of judicious with their money when they lived on my dime.

I dont know how your kid were spending money or saving money but out of that sample budget I would only expect the kid to pay for the Car, maybe phone / maybe not (if on family plan), maybe part of car insurance and rest is his / her saving or spending money so I don't know why $1200 a month would not be enough for a kid working at these jobs.

[The Nature Boy 4,224]

$20 a month on health insurance? Two jobs? Only a $150 monthly car payment, and apparently the car doesn't even need gas. The amount allocated for heating and electric seems about about right, but of course I don't see anything budgeted for water and trash collection, which for us comes to about $45 a month. Also, this budget doesn't seem to take into account that somebody might be forced to take time due to illness or the the like, so I rather doubt that saving a $100 each month cover it. Good luck ever saving to go back school either and with two jobs, it seems a pretty tall order to expect somebody to have energy or even the time to do an online course. If somebody is working eighty plus hours a month, he/she probably won't have time for the internet or even making calls, so I guess they can save money by cutting both of those.

http://www.practicalmoneyskills.com/mcdonalds/budget/budget2.php

Lets see

Cut out the 100 dollar per month cell phone, move the 100 dollars (other) back to Monthly spending and that gives you 950 dollars per month after paying basics

950 a month to pay whatever .. Sounds like a lot to me

2060 net per month is about 32,000 dollars per year

You folks really don't get it.. That is a lot more than many make

The problem with this budget is the high amount of non-allocated spending

Edited September 4, 2013 by The conciliator

[JohnR! 5,495]

I dont know how your kid were spending money or saving money but out of that sample budget I would only expect the kid to pay for the Car, maybe phone / maybe not (if on family plan), maybe part of car insurance and rest is his / her saving or spending money so I don't know why $1200 a month would not be enough for a kid working at these jobs.

What I meant is that my kids cost me far more than $2060 a month when they were living on my dime, before they were able to hold jobs themselves. Based on that I can't understand how an adult can live with on that.

In any case, my point is not whether one can live on that or not, so much as I think an net income of $2060 is laughable no matter who gets it. And it gets downright shameful when you consider there are adults in the US working two jobs to make that much.

[duraaraa 203]

Most of my costs are more than double what that budget says. I need to get out of California.

[The Nature Boy 4,224]

Most of my costs are more than double what that budget says. I need to get out of California.

I love to watch real estate shows etc

I see homes out there going for 600K that would cost 75K here

[duraaraa 203]

I love to watch real estate shows etc

I see homes out there going for 600K that would cost 75K here

You probably can't even get a mobile home in a trailer park for 75k here -- I don't think there's anything available in my neighborhood for less than 500 or 600k.

My company actually has work in Georgia... maybe I should ask for a transfer

[Harsh_77 718]

What I meant is that my kids cost me far more than $2060 a month when they were living on my dime, before they were able to hold jobs themselves. Based on that I can't understand how an adult can live with on that.

In any case, my point is not whether one can live on that or not, so much as I think an net income of $2060 is laughable no matter who gets it. And it gets downright shameful when you consider there are adults in the US working two jobs to make that much.

Who is responsible for those adults who made a decision not to go or drop out of the school, who made a decision not to acquire any trade skills?

There are lot of jobs out there which make pretty good money even without a 4 yr degree but one has to put effort.