Your Questions About Family Budget Percentages

Sandy asks…

What is the percentage of your family budget for education?

Do you know any family which spend more than 50percent of their income for education?

richmama answers:

I pay my taxes I help out at school I coach teams,I help do fund drives so we can get better computers I read to kids that are having trouble! We go book shopping with kids once a month! One son really in to Dinosaurs, I try to keep the older one away from girlie mags(says just for the articles! Wink)
Internet also and web filters to keep said older one off sites I prefer he is not on! TV we watch allot of Hx Channel and Discovery or National geographic….and of course cartoon network!

James asks…

HOW MUCH TO GIVE INTO FAMILY BUDGET?

Me and my girlfriend discussed family budget. We both earn around 1500$ and we don’t have any special financial problems. My opinion is that each partner should invest certain percentage of wage (let say 50%) for common needs, like rent, electricity, phone bills, some 20% should go into long term savings and remaining 30% percent would be free to spare. She said that is not good, everything is common. I asked her if then I should ask her permission for buying me book, worth 15$. She said that I should definitely tell her after buying. I mean, I would ask her before if I would like to buy something for 50+$ but reporting everything to partner seems to much. How you manage such things? Thank you very much.

richmama answers:

Talk to them

Helen asks…

HOW MUCH MONEY SHOULD EACH PARTNER SHARE INTO FAMILY BUDGET?

Me and my girlfriend discussed family budget. We both earn around 1500$ and we don’t have any special financial problems. My opinion is that each partner should invest certain percentage of wage (let say 50%) for common needs, like rent, electricity, phone bills, some 20% should go into long term savings and remaining 30% percent would be free to spare. She said that is not good, everything is common. I asked her if then I should ask her permission for buying me book, worth 15$. She said that I should definitely tell her after buying. I mean, I would ask her before if I would like to buy something for 50+$ but reporting everything to partner seems to much. How you manage such things? Thank you very much.

richmama answers:

In my experience we tend to add up all the outgoings and then the total we half so every month we put half each in example if outgoings are £1000 we put in £500 each into a joint account. The rest of our salaries stay in our individual accounts as long as the bills are paid the rest of the money is ours to spend. We have individual savings accounts however if any extras are required we half them. We never have to ask one another before we purchase something regardless of cost as this would come out of our individual accounts and would not impact upon the bill paying. I agree that reporting everything is to much. You work hard for your money you should at least have some freedom to enjoy it.

Sharon asks…

What percentage of the federal budget was allocated to Temporary Assistance to Needy Families last year?

richmama answers:

The federal TANF block grant has been about $16 billion since 1996. The entire federal budget for 2010 was $3.5 trillion; so about .4%

Over half the states will have a 15% reduction in federal TANF money next year.

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