|The living wage broken down into categories|
Housing: Over 50% of any budget is a lot! Honestly though, I don't know how you could find a one bedroom apartment for what they are suggest as housing cost, so I'm curious as to where they get their data, and if this includes utilities or just rent. I suppose one way of doing it would be to live further away and commute, thus adding to transportation costs.
Medical: That's actually a smaller percentage than I was expecting!
Transportation: I think it's clear that we aren't in a great area for public transportation along with the fact that we live in a society where people like having cars.
Savings: The living wage is based on the assumption of how much money is necessary to live. I've included this for comparison to my "living wage" budget.
Other: Things like clothing and cell phones I assume.
Food: I think this is a realistic figure if you never eat out.
|What my budget would look like for an "average" month based on categories and living wage income|
Housing: I share a two bedroom apartment with two other people. This certainly helps cut costs.
Medical: I'm lucky to get health insurance through my school. I think it would be difficult to find comparable insurance on a private plan, but I don't know because I've never actually looked...
Transportation: I don't own a car, but I do put money aside for transportation every month. If I don't use it, it just gets put towards traveling and other adventures.
Savings: I think the main way I've squeezed savings out of the "living wage" is by living with people and not owning a car. While those are personal choices, it certainly makes a huge difference.
Other: My phone among other things. I could definitely have a cheaper phone, and maybe no phone at all, but it is something I really like having.
Food: Surprisingly close! I rarely eat out, but I do purchase high quality foods. I think it's important to eat a healthy diet.