As soon as you make your first investment or trade you are going to start looking to see how well you are doing...
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) http://www.census.gov/compendia/statab/2011/tables/11s1191.pdf
House insurance: $64/90 ($778.84/year) http://www.census.gov/compendia/statab/2011/tables/11s1221.pdf
Utilities: $316 ($158.33 electricity x2 for water and gas) http://www.energysavers.gov/pdfs/energy_savers.pdf
Car payment: $386 guess ($20k @ 6%) This number I estimated.
# of cars/family 1.16 (135m cars / 116m Househoulds) http://www.census.gov/compendia/statab/2011/tables/11s1095.pdf
Car insurance: $62 ($749.88/year) http://www.census.gov/compendia/statab/2011/tables/11s1221.pdf
Gas: $162 (43 gallons/month) http://www.nacsonline.com/NACS/Resources/campaigns/GasPrices_2011/Documents/GasPriceKit2011.pdf
Cost $3.79 http://www.eia.gov/
Credit card debt: $5050 on card
http://www.census.gov/compendia/statab/2011/tables/11s1187.pdf
# 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). http://www.wireless.att.com/
Food: $806 http://www.cnpp.usda.gov/Publications/FoodPlans/2011/CostofFoodApr2011.pdf
Health Insurance: $333 http://www.ncsl.org/?TabId=14509
Life Insurance: $42 state farm
Tv/Internet: $100 (http://www.comcast.com/Corporate/Learn/Bundles/bundles.html?)
Misc: $200/month.
Clothes, gifts, charity, entertainment, car repair.
Total bills / month: $4420
Average household income: $4191 / month (50,303) http://www.census.gov/compendia/statab/2011/tables/11s0700.pdf
Average family income where Husband and Wife worked 73% ( 33,954 / 46,201 http://www.census.gov/compendia/statab/2011/tables/11s0700.pdf
Income for 2 kids $76,575 (http://www.census.gov/compendia/statab/2011/tables/11s0700.pdf)
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%)
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) http://www.census.gov/compendia/statab/2011/tables/11s1191.pdf
House insurance: $64/90 ($778.84/year) http://www.census.gov/compendia/statab/2011/tables/11s1221.pdf
Utilities: $316 ($158.33 electricity x2 for water and gas) http://www.energysavers.gov/pdfs/energy_savers.pdf
Car payment: $386 guess ($20k @ 6%) This number I estimated.
# of cars/family 1.16 (135m cars / 116m Househoulds) http://www.census.gov/compendia/statab/2011/tables/11s1095.pdf
Car insurance: $62 ($749.88/year) http://www.census.gov/compendia/statab/2011/tables/11s1221.pdf
Gas: $162 (43 gallons/month) http://www.nacsonline.com/NACS/Resources/campaigns/GasPrices_2011/Documents/GasPriceKit2011.pdf
Cost $3.79 http://www.eia.gov/
Credit card debt: $5050 on card
http://www.census.gov/compendia/statab/2011/tables/11s1187.pdf
# 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). http://www.wireless.att.com/
Food: $806 http://www.cnpp.usda.gov/Publications/FoodPlans/2011/CostofFoodApr2011.pdf
Health Insurance: $333 http://www.ncsl.org/?TabId=14509
Life Insurance: $42 state farm
Tv/Internet: $100 (http://www.comcast.com/Corporate/Learn/Bundles/bundles.html?)
Misc: $200/month.
Clothes, gifts, charity, entertainment, car repair.
Total bills / month: $4420
Average household income: $4191 / month (50,303) http://www.census.gov/compendia/statab/2011/tables/11s0700.pdf
Average family income where Husband and Wife worked 73% ( 33,954 / 46,201 http://www.census.gov/compendia/statab/2011/tables/11s0700.pdf
Income for 2 kids $76,575 (http://www.census.gov/compendia/statab/2011/tables/11s0700.pdf)
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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