Theoretical Budget - January 2016

I created a theoretical budget for living back in 2014 using the societal needs categories as the items in the budget. I omitted air, sunlight, and recreation, and I was able to easily catch all of my potential expenses either in the remaining items or in the tax withholding item. Here's what it looks like for 2016:

Primary

Water -  $ 57.50 - Household of four halved.

Food - $ 400 - Dining out for half of all meals.

Rent - $ 800 - An average 3 bed 2 bath house halved.

Secondary

Electricity - $ 107.50 - Household of four halved.

Waste - $ 35 - Trash, recycling, and sewage.

Clothing - $ 50 - The cost of one full outfit.

Entertainment - $ 75 - Games, movies, sports, etc.

Exercise - $ 15 - A gym membership.

Tax Withholding -  $ 67 - Automatic taxes to the government.

Tertiary

Transportation - $ 135 - Insurance, gas, and tolls.

Communication - $ 105 - A cell phone and internet.

Shopping / Trade - $ 40 - This money goes to furnishings and goods.

Healthcare - $ 220 - Healthcare and dental.

Safety / Regulation - $ 15 - For when you get a parking ticket.

Social - $ 20 - When you go out for drinks.

Religion - $ 20 - For the sake of charity.

Education - $ 50 - Send your kids to college.

Creative Arts - $ 25 - A hobby or just craft supplies.

Risk - $ 25 - Do you feel lucky?


Total (Monthly)
$ 2,262

Total (Yearly)
$ 27,144

In summary, rent and food prices have risen predictably, and transportation costs have gone down slightly with gas prices. Communications and clothing have increased to represent their importance. This budget is my defining line between the lower and middle class. It also may not be entirely accurate. For instance, many people pay much more for insurance or education.