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Does $1200 sound about right for three people to live on for a month?

My husband asked me to take over doing our family budget. I have never had much experience doing this but I gave it a shot. I wrote down all our expenses and then totaled it. For us and our toddler it came to $1,200. Is it just me or is that freakin insane?

 
Anonymous

Asked by Anonymous at 5:27 PM on Jan. 8, 2010 in Money & Work

This question is closed.
Answers (77)
  • Does that include rent and utilities/bills or just living expenses like food, gas and fun? If its food/gas/fun- that sounds like plenty-if its your total monthly outlay- think of it this way-its $14K/year which is below the poverty level for that size family. If you can live on that, you are doing just fine budgeting!
    justmyopinion

    Answer by justmyopinion at 5:34 PM on Jan. 8, 2010

  • Holy crap, no. Our mortgage with taxes alone is over $1700.
    Anonymous

    Answer by Anonymous at 5:30 PM on Jan. 8, 2010

  • If you pm me I can email you a budget spreadsheet that I use. That way you can make sure you aren't forgetting anything. Every city/town is different, so no one will know but you.
    other_mother

    Answer by other_mother at 5:30 PM on Jan. 8, 2010

  • I just mean that seems like way to much money for only three people.
    Anonymous

    Answer by Anonymous at 5:30 PM on Jan. 8, 2010

  • We spend maybe 1000 a month on bills and food. including rent.

    Where do you live? The rent/cost of living is great in your area. Around here $1000 would not cover rent/utilities on a 2 BR apt which I would guess would be the minimize size for 3 people.
    justmyopinion

    Answer by justmyopinion at 5:36 PM on Jan. 8, 2010

  • That includes the rent all the utilities, laundry quarters, and diapers.
    Anonymous

    Answer by Anonymous at 5:36 PM on Jan. 8, 2010

  • Our rent is $550 and we have a two bedroom apartment.
    Anonymous

    Answer by Anonymous at 5:38 PM on Jan. 8, 2010

  • Yeah that seems like its very little. Just our cell, cable/internet, car insurance, car payment comes to $805.
    SandraB383

    Answer by SandraB383 at 5:49 PM on Jan. 8, 2010

  • We live on that per month...weve actually lived on less!!! but thats about right...make sure you budget for when the electric bill tends to sky rocket (the coldest/hottest months)...and dont try to skimp on gas and food unless you can stick to it...make sure the budget is livable..and make changes accordingly.
    sweetstkissez22

    Answer by sweetstkissez22 at 5:50 PM on Jan. 8, 2010

  • WOW- $500 rents! Everything is relative I guess. If your rent/mortgage is low- you can live on less. And you all have great utility rates as well. My gas/electric last month was 250- I almost fell on the floor. We have a mortgage, but when we rented our rent was $800/ for a one bedroom (before kids). It is so interesting to hear about life in other parts of the country. It gives me perspective when people say "we live on $15K/year". I think it all goes back to the cost of the basics like rent/mortgage and utilities rather than greed/ quality of life.
    justmyopinion

    Answer by justmyopinion at 5:56 PM on Jan. 8, 2010