Develop a monthly family budget that details the major expenses for your family. Explain how you...

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Develop a monthly family budget that details the major expenses for your family. Explain how you came up with the expenses by explaining what kind of work family members are engaged in and any other...

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Develop a monthly family budget that details the major expenses for your family.

Explain how you came up with the expenses by explaining what kind of work family members are engaged in and any other family circumstances that impact expeneses and/or income.
Cite any sources used in determining expenses and/ or income

Develop an annual family budget by adding non-monthly expenses to the monthly family budget.
Complete the budget picture by determining the monthly income and annual income that is needed to support your family.

005_yeafajo-r2m2xcqj.docx

Answered Same Day Dec 23, 2021

David · Accepted Answer

1.0 Introduction 
This report is written to find out the hourly wage rate for a single Woman living in Boston 
Somerville area from its monthly expenses. This woman is working in a bank as assistant 
accountant which is 8 miles away from its house. So he will have to commute to and fro from 
his house to work place and vice versa. In order to find hourly wage rate, first we will have to 
find monthly and annual expenditure and then these expenses will be used to find out hourly 
wage rate.  
2.0 Expenditure details 
The list of various expenditure categories and its details with various assumptions that is 
necessary for a single 25 year woman to survive in Boston Metropolitan area are as follows. 
All has been given keeping in mind that daily she is spending around 12 hours in room with 
all minimum requirements like internet etc. 
Category Expense Details Assumptions Source 
Home      
  Rent or mortgage 
Living in 
Somerville in 
single bedroom 
http://www.apartmenttherapy.c
om/what-does-it-really-cost-to-
live-in-boston-apartment-
therapys-cost-of-living-report-
boston-2012-175130
Home 
maintenance/repairs 5 % of Rent 
Assumptions 
Automobil
es
  Fuel 
Daily roundtrip 
and weekend long 
drive 
http://www.apartmenttherapy.c
om/what-does-it-really-cost-to-
live-in-boston-apartment-
therapys-cost-of-living-report-
boston-2012-175130
  Auto insurance Lancer Car Same as above 
  Tires and maintenance Air, Lubes etc. Assumptions. 
Utilities      
  Electric bill 
Average Bill as per 
city data 
http://www.city-
data.com/forum/boston/752722
-living-boston.

Develop a monthly family budget that details the major expenses for your family. Explain how you came up with the expenses by explaining what kind of work family members are engaged in and any other...

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