Friday, June 17, 2011

How to measure financial success

As soon as you make your first investment or trade you are going to start looking to see how well you are doing...

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

Here is the breakdown of what I found on the census site and on sites I would consider trustworthy enough...

Average Family Bills / month.  2 adults, 2 kids
Mortgage: $1,733 ($323k @ 5% for 2009 homes)
House insurance: $64/90 ($778.84/year)
Utilities: $316 ($158.33 electricity x2 for water and gas)

Car payment: $386 guess ($20k @ 6%) This number I estimated.
# of cars/family 1.16   (135m cars / 116m Househoulds)
Car insurance: $62 ($749.88/year)
Gas: $162   (43 gallons/month)
  Cost $3.79

Credit card debt: $5050 on card
# of cards: 6.37 (177m cardholders, 1128m cards)
Balance:5050,  792.55/card  (894b debt outstanding)
Rate 13.4% (2009) ($56/month just interest)
Cellphone: $100 (family plan 3 phones).
Food: $806
Health Insurance: $333
Life Insurance: $42 state farm

Tv/Internet: $100 (

Misc: $200/month. 
    Clothes, gifts, charity, entertainment, car repair.

Total bills / month: $4420
Average household income: $4191 / month (50,303)
Average family income where Husband and Wife worked   73% ( 33,954 / 46,201
Income for 2 kids $76,575 (
Average income: $6381/ month
So half of all the above monthly bills divided in half for the dual income family brings and including the taxes I will have to pay as a theoretical family member...
TARGET: $2,762 after taxes (25%)

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