$64K

Last week the Economic Policy Institute released its updated Family Budget Calculator. According to the EPI, the average cost for a family of four to live comfortably in Charlotte is $64,728. My first initial thoughts:

  • Why does my individual monthly budget resemble that of a family of four (hellooo necessary cutbacks on my end!!)?
  • That seems extremely low. 
  • What do they consider  “comfortable” living?
  • If that’s the case, I’m pretty fortunate

What do you think? Do you think your family could survive off of this amount?

Two Parents, Two Children

Item Cost
Monthly Housing $793
Monthly Food $754
Monthly Child Care $1062
Monthly Transportation $607
Monthly Health Care $1427
Monthly Other Necessities $396
Monthly Taxes $355
Monthly Total $5394
Annual Total $64728
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2 thoughts on “$64K

  1. I live in Charlotte (probably near you! I’m in south end 🙂 ) and as a single 27 year old female, I make about $60k, maybe a little more, annually. I track all my expenses down to the penny and I have no idea how a family of four could survive on my salary. First off, my rent is $400/month more than they estimate. I would think car payments/insurance/gas for 2 parents would be over $600/month, as I pay around $450/month for those expenses. I work with a lot of people around my age who are the sole providers for their wives/children and I don’t know how they make it work!

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