Family Budget

The federal poverty line has traditionally been used to
measure whether families have incomes high enough to
enable them to meet basic needs. Yet most researchers
now agree that a “poverty line” income is not sufficient
to support most working families. “Basic family budgets,”
individualized for communities nationwide and
for type of family (e.g., one parent/one child, two parents/
two children) offer a realistic measure of the
income required to have a safe and decent though basic
standard of living.
Family Budget Calculator lets you determine the
income needed for particular types of families to make
ends meet. Because costs of goods and services vary
across the U.S., the calculator customizes the budgets
for every U.S. community—over 400 in all. Simply
select from one of six family types, pick a state, and
then select a community to see how much that family is
likely to need for housing, food, child care, etc. The calculator
also shows the percent and number of families
in that state living below the family budget level.
It is important to note that a basic family budget is
indeed “basic.” It comprises only the amounts a family
needs to spend to feed, shelter, and clothe itself, get to
work and school, and subsist in 21st century America.
Hence, it includes no savings, no restaurant meals, no
funds for emergencies—not even renters’ insurance to
protect against fire, flood or theft.
*Note: These family budgets are for the year 2004.
ILLINOIS TOTALS
Percentage of all people in state living below family
budget line 22%. Number of all people in state living
below family budget line 488,000
BASIC BUDGETS FOR CHAMPAIGN-URBANA
1 parent/1 child
Monthly housing $611
Monthly food $265
Monthly child care $472
Monthly transportation $275
Monthly health care $245
Monthly other necessities $237
Monthly taxes $167
Monthly total $2,272
Annual total income $27,264
1 parent/2 children
Monthly housing $611
Monthly food $405
Monthly child care-9 $763
Monthly transportation $275
Monthly health care $285
Monthly other necessities $274
Monthly taxes $103
Monthly total $2,716
Annual total income $32,592
2 parents/1 child
Monthly housing $611
Monthly food $448
Monthly child care $472
Monthly transportation $375
Monthly health care $313
Monthly other necessities $286
Monthly taxes $247
Monthly total $2,752
Annual total income $33,024
2 parents/2 children
Monthly housing $611
Monthly food $587
Monthly child care $763
Monthly transportation $375
Monthly health care $350
Monthly other necessities $323
Monthly taxes $178
Monthly total $3,187
Annual total income $38,244
You can find out what the monthly basic budget for your
household should be by visiting: http://www.epi.org/content.
cfm/datazone_fambud_budget