Primary
Water - $ 65 - Household of four, halved.
Food - $ 600 - At $20 per day, times 30 days.
Rent - $ 900 - An average 3 bed 2 bath house, halved.
Secondary
Electricity - $ 150 - Household of four, halved.
Waste - $ 35 - Trash, recycling, and sewage.
Clothing - $ 60 - The cost of one full outfit.
Entertainment - $ 75 - Games, movies, sports, etc.
Exercise - $ 15 - A gym membership or occasional outing.
Taxes - $ 350 - Withholding amount.
Tertiary
Transportation - $ 350 - Car payment, insurance, gas, and tolls.
Communication - $ 160 - One cell phone and average internet.
Shopping / Trade - $ 50 - This money goes to furnishings, equipment, electronics, and goods.
Healthcare - $ 250 - Healthcare and dental.
Safety / Regulation - $ 10 - For when you have to renew a license, or pay a parking ticket.
Social - $ 20 - When you go out for drinks.
Charity - $ 20 - To help others.
Education - $ 50 - Send yourself or your kids to college.
Creative Arts - $ 25 - A hobby or just craft supplies.
Risk - $ 25 - Do you feel lucky?
Total (Monthly)
$ 3,210
Total (Yearly)
$ 38,520
In years prior I was not withholding enough for taxes, which worked out because the income necessary for the budget was still in the lowest tax bracket. The numbers for healthcare and education I have are once again much lower than most Americans'. Also, before, I assumed wrongly to not have a larger transportation budget. Repairs, a car payment, and/or high insurance costs all have a high prevalence for most people. To summarize, in order to breach the minimum threshold between low and middle class, you have to afford the higher tax rate and higher expected costs. In effect, it shows that the middle class is hemorrhaging a massive amount of potential wealth to pay insurance premiums, most of which is required by law in some form, in practically every state. You'd have a tough time convincing me that's the right thing to do.
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