Poverty Budget Exercise

Assume you are living in a 3 person family (one adult: one woman & two children (a girl and a boy), who are 2 and 11, respectively) whose income is right at the poverty threshold (see table below for the dollar amount). Make a MONTHLY budget for this family that includes expenses for everything you think the family might need over the course of the year. You have only the money allocated for your family size/type on the poverty threshold table. Make sure that you read the table correctly. There is NO other money available to you.

Please explain any assumptions you make for your family. You must find a place to live and provide the name and address of the place (apartment building/community), a contact phone number, and a description of the amenities received for the rent paid. Your budget will be evaluated based on how complete/thorough and realistic it is. So, remember to include every expense that your family might have.

Sample Solution