average monthly expenses for family of 6

#Average monthly expenses for family of 6 series#

#Average monthly expenses for family of 6 series#

The next article in this making a budget series shows shows you that if make a personal budget and stick to it, you can stay on the out of any recession. Learn why the average family budget is not the typical budget. Do get them close, however, as you will gain peace of mind.Īfter a couple of months of adjusting, check to make sure your budgeting money endeavors are bearing fruit. Do not panic! Stick with your plan to reduce expenses, making it a lifestyle forever and ever.Īgain, do not take the above budget percentages as set in stone. If it is consuming more than a third of your take home pay, you might be feeling the psychological crush of your previous decisions. This is based on the national average and likely varies by location and shop. Here’s a monthly grocery budget for the average family. However, these national averages vary based on where you live and the quality of your food purchases. When it is all said and done, your own guidelines must add up to 100% of your spendable income (the amount you actually get in your check). The average cost of food per month for one person ranges from 150 to 300, depending on age. You will need to adjust your own spending plan in other areas if you do or do not have expenses for child care, school, debts, or investments. We arranged the most important monthly expenses to summarize the cost of living in Canada and provided the average monthly rent by city. Insurances and pensions cost 608, and they account for 11.9 of the average monthly budget. 15 percent of the total money is spent on transportation.

The second most amount of money is spent on transportation- 813 to be precise. You will notice these numbers do not equal 100%, but actually go above. The average monthly housing cost is around ,1,674 and up to 32 of a household’s income.

What are your budget averages? Share them with us. Heres how the average food spending numbers for the reference family add up on a monthly basis, as of November 2021: Thrifty plan: 855.104 Low-cost plan.