Just make sure you keep an eye on your bill to make sure they don’t jack up the rate on you.Ģ cars with minimal coverage should run $80 or less. Sometimes less than $40 for the first 6 months. Hi-speed internet can be found for cheap. Reduce usage by doing less laundry (re-wear clothing), don’t shower every single day and only run completely full dishwasher. The sophisticated budgeter is going to use cloth diapers to save money, but the water will may be a bit higher than normal. Air drying laundry, using efficient LED lights and keeping it cooler will help bring it down. If they get a mortgage, it should NOT exceed this amount.Įlectric heat and lights keep this bill up. This family is currently renting a 2 bedroom apartment. The Smiths goals seem pretty typical, but with a $40,000 salary, let’s see if they can get there: SMITH FAMILY BUDGET The Smiths are debt free, due to their frugal living choices. ![]() ![]() College Savings – $5,000 (using College Backer).Emergency Fund – $5,000 (in a Money Market account).They feel a bit trapped by their income, and don’t know if they can ever really hit their goals. Smith have some big dreams in life, but their income is just below the average American household income. The Smiths have a 4 year old daughter, and a 2 year old son, and both just turned 30 themselves. Actually, let’s make that a labradoodle (this isn’t the 90’s!). The Smith family is your typical, American, single-income household, with 2 kids and a golden retriever. ![]() Today’s ideal budget is the Smith family.
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