How much do yo havbe to earn monthly to support a family??

Question

say man, woman, one or two children, then paying 600 per month in rent and you own two vehicles free and clear?

Answer 1

It really depends on where you live, if you want to dine out a lot, go on vacations, buy nice clothes and nice toys, have cellphones, etc. or if you want to live a very spartan lifestyle.

Also...you might want to specify whether you're talking about 600 US dollars, British pounds, or what.

But for US dollars, I'd say roughly:

600 rent (if you say so...I don't know of anywhere you can get an apartment that cheap)

400 groceries

100 gas/electricity/water

100 for either 2 cellphones or 1 landline + 1 cell

200 gas

100 car insurance

So that's $1500/month after taxes ($2300 before) and not spending any money on buying stuff, cable tv, having fun, etc.  $2300/month would be about $13.50/hour working full-time but no overtime.

Answer 2

You have to consider:  food, utilities, care insurance, healthcare, entertainment, clothes, miscellaneous expenses.  It depends pretty much on how much income is available to you.

Answer 3

A good rule of thumb is that your housing costs should total no more than 1/4 of your monthly income. So add up your rent and utilities, multiply it by 4, and that is the minimum monthly amount you should earn.

Answer 4

Way to many items not specified -

kids in day care,

what state, history, and age  -for car insurance

what are your other costs - phone, calbe, entertainment

go to one of the budget planning sites - money magazine has one ---

Answer 5

$3000 a month would give some breathing room

Answer 6

well if the woman stays home with the kids then I would say something like this:

Rent:600

car ins: 100

utilities: 300

cable/internet/phone/cell: 200

groceries: 400

gas:         160

misc:          50

I would say at the bare minimum around $1800 a month. But it also depends on your income ( foodstamps, medicaid, child support)