Your Questions About Household Budgets Examples

Thomas asks…

What are two ways any organization can reduce persistent budget deficits?

of the two, which is the least pain free???

this is just a genral budgeting question…for example it could be about a household, a business, or governmental body.
the question was which is the least pain free, or in other words the most painful.

Would it be more painful for that organization or entity to cut spending to do without some things, or easier to find new sources of revenue?

richmama answers:

Raise income.

Cut spending.

Both can hurt and can be hard to do. But as a general rule cutting spending is quicker and easier.

Steven asks…

Would you describe average wages and typical costs of living in your country?

I live in Hungary, where average monthly wages (salaries) are around 500 USD (or 350-400 euros). I know it is not too high in international comparison, at least among developed countries. But costs of living are relatively low, too, here, at least prices of food or other products. But housing costs – I mean the price of electricity, gas, water – are high. And that is why are our household budgets are mostly tight.
For example you might buy one kilogram (2 pounds) of bread or one litre of milk for about 1 USD (I mean its equivalent in HUF), 1 kilogram of meat for 2-6 USD (depending on its type – I also mean liver etc.). I think we have to pay about 400-500 USD for housing costs monthly. Our monthly family income is about 850 USD. (I have a wife and three children and we live in an average sized flat.)

What about your country? Could you give me some similar examples?

richmama answers:

I live in California,USA My husband and I are mainly a single income family, he is in the military. He makes about 4000 USD a month. Almost 2000 USD of that goes towards our home, 400 USD on bills, and about 200 USD on groceries. The rest is ours to do as we please. But, when I live in Arizona, USA, I pay 300 USD in rent and I don’t really buy groceries, which means that we would have an extra 1900 to do as we please. I suppose it’s not rich according to American standards, but currently we are better off than most.

Ruth asks…

How can you help feeling sorry for Michelle?

Until her husband ran for President she had never felt proud of her country. She’s been struggling, meeting her household budget, finding time for her family to be together. It’s sad that she’s having such a hard time of it.

I received a less than 3% raise in my military retiree pension last year. That pension was earned by serving my country for 20 years, sometimes in less than ideal conditions – for example in the jungles of southest asia a few years ago.

Michelle also got a pay raise. In 2006, the Chicago Tribune reported that Mrs. Obama’s compensation at the University of Chicago Hospital, where she is a vice president for community affairs, jumped from $121,910 in 2004, just before her husband was elected to the Senate, to $316,962 in 2005, just after he took office. And that does not count the money Mrs. Obama receives from serving on corporate boards.

Life is hard. OMG, I’m starting to sound like a liberal with class envy syndrome!
Retrograde – The difference in welfare and my military pension is the fact that I EARNED it by settling for low wages for a dangerous job, uprooting my family every three years, and living in some hellhole locations. You’re right, I do criticize unearned welfare. There are plenty of ways that recipients of “freebies” can work off their benifits. I worked to provide the tax dollars to pay for it. Why shouldn’t they?

richmama answers:

To answer your question;

Yes, I can see where she needs “change”. Thats why she tells people not to go into the business world and earn that evil money.

Http://www.freerepublic.com/focus/f-news/1978279/posts?page=165

Mrs. Obama urged them to foreswear lucrative professions like corporate law or hedge fund management and go into the helping industry, even if the sacrifice is great:

Donald asks…

Do you agree that this bailout/giveaway stinks? ?

And does anyone believe that taxes won’t go up no matter who wins? Bear with me please. Ilive in a $175,000 house (at least it used to be worth that) We drive a10 and a15 year old car bought with cash, have a 33 year old fishing boat, bought with cash. I pay My taxes and manage our household budget responsibly. I don’t want that money going to stop a forclosure on someone living in a half million dollar home with a Vette a Bmer 2 jet skis and a Harley who can’t afford the toys He chose to buy.(I don’t think the bailout/giveaway accounts for that scenerio, and there will be plenty of them) Shouldn’t they just have to find a way to pay for the mess they got into?
And why has President Bush set the worst example possible by borrowing a trillion dollars from foriegn countries without any real way or plan to pay it back?
That’s worse than raising taxes because it adds interest to the mix. I’ve heard that we pay over $20 bil a year in interest alone just to China. (not sure how accurate that is, but we obviously will be paying them interest that should be going to our Govt.) Lots of people from all walks of life have gone into debt for more than they can handle including and especially President Bush.
Obama will have to raise taxes more than He’s admitting and not just on the rich, and for McCain to keep pretending that He won’t have to raise taxes at all would be laughable if it weren’t so sickening.
We’re stuck bailing out Bush’s mess with higher taxes no matter who wins, but why do we have to bail out irresponsible homeowners and rich wall street crooks?
Sorry wrong category. Can anyone help me figure out how to change to politics?

richmama answers:

Bailouts definitely stink when you’re trying to go for it in two. Be a man, go for the green, and if you realize you’re in the wrong category, don’t waste your time typing up a long drawn out email. Nobody’s going to respond with a serious response. The bailout will work in the long run and it’s really the only option at this point. Not voting it in will cost us middle class folk more $$$ in the long run. Rates will temporarily rise, but in the coming months with more bad news on the horizon in the market, mortgage rates will drop.

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