Our gross annual income is $131,551.00 and our gross monthly income is $10,962.58. My dad makes about $90,000.00. Our mom makes $41,551.00 The money is going to the government to pay for goods and services. Yes, the government is justified to give us taxes because if they didn't there would be serious issues. Take for example Dump trucks would not come to take the trash and America being how it is today trash would just build up on the streets. Then only rich people could rent out dump truck services for themselves. …show more content…
Our mortgage is $1,667.00 a month.
Our property taxes is $546.00 per month. Our insurance is $40.00 a month. While looking for a house we were mainly looking for a house with lots of bedrooms. Eventually, we found one with about five bedrooms. This was perfect because the three youngest kids could sleep in one room. The three oldest kids could have their own rooms and the parents also get their own room. We did find a house with six rooms but it had a small backyard and front yard and it was in a not so nice area. This is a perfect house because it has a good amount of room and it was in a good neighborhood it also has three bathrooms which is great and a decent back and front
yard.
Our family chose a Chevrolet Tahoe and a 2013 tesla. We chose these car’s because it was big enough to fit most of us in it and it had good mile per gallon. We did not have any other ideas for cars because we found just what we wanted and it was perfect for the whole family. Everybody got what they wanted and we have two cars a personal car and a family car. This allows us to get around faster. Because we all couldn't fit into the same car, however, some kids will have to take the bus.
Our bundle payment is $140.00 per month. The cell payment is $150.00 per month. Water payment is $150.00 per month. Gas and electricity is about $175.00 every two months. We chose the T.Mobile plan because when a fourth line is put on it, it is free and because we have five people in the family that would use cellphones it was almost perfect but we could pay for the fifth person. We consider the Verizon plan but it wasn't the best when it came to a plan with more phones than usual. We can make sure to not take extensive showers to save water. When a room is not being used or nobody's home turn off the light or lights this will help with the electricity bill. In terms of saving, gas keep the heat at a certain temperature and use an electric stove.
Our groceries are costing about $1,443.00 per month. Groceries cost this much because there's not really a tax for them so they cost more and because our family has so many people we eat a lot. If we want to spend less we could slowly eat less and less until our bodies get used to smaller portions.
The rest of our money is going towards stuff like clothing, medical care, and education. Out of all the miscellaneous cost, the most important are medical care because you never know when a serious toothache or serious medical injury might occur. Auto and home repair is another major one because if a large storm went by and a large branch gets launched onto your roof or crushed your car you would want to be able to protect fix the damage. Education is easily the most important you want your kid to be educated it will prepare him or her for life and you get rid of them for a good six hours. Last but not least clothing this one is pretty obvious because you can't exactly go into public without clothes.
There is no money left over at the end of the month, in fact, we are in debt for $411.96. We could change this by conserving energy and water so we pay less for the bills. We could get a cheaper bundle. We could also cut back on groceries. Getting cheaper cars would also be a good idea. Getting a less expensive house could also help a lot.
No, our family is not a well-functioned unit because while the monthly income could uphold a pretty big family because we have 8 family members living under one roof what our family makes just isn't enough. We also have mostly teenage boys in the family it really stretches our budget on groceries.Having a bigger house might be causing problems also because there are so many rooms in the house it is easy to leave lights on all day which makes us pay more on our electricity bill.