I’m trying to create a budget for my family, and I’m curious about the average monthly expenses for a family of four. Can anyone provide insights into common expenses such as housing, food, transportation, and healthcare, to help me better plan our finances?
To me, $650 a month for drinks and going out is a lot. But I guess it depends on your goals and income. That’s a lot of money you could put to work.
I want to get $400 a month for two people. But I’m very careful with money and am on a tight budget right now.
Budgeting for a family of four can feel overwhelming, but I’ve been there and can assure you it’s doable. On average, expect around $8,000 a month, but it really depends on your location, kids’ ages, and how you live. Think of it like this: housing might run $2,000 to $4,000 (rent or mortgage), groceries $800 to $1,200, transportation $500 to $1,000 (cars, gas, etc.), and healthcare around $500 (insurance and copays). Here’s the cool part - there’s wiggle room. Packing lunches saves on groceries, and there might be ways to cut transportation costs too. To get a grip on your spending, track everything for a month, then tweak your budget to perfectly fit your family’s shoes.