We’re a Family of 5 Living on One Salary: Here’s Our Monthly Budget

It is not easy to live on one income with a family of five individuals, especially when expenses continue to rise every year. For many Americans, making them work mean creativity, staying disciplined and always looking for ways to extend every dollar. For Katie and Mark, living is simply and adhering to a strict budget as a means of life.

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In a video on YouTube, Katie unveiled how exactly it works, from paying debts to construction, all on one salary.

Katie is a mother at home for three children: one in high school, one in middle school and the smallest in an elementary school. She said: “We are a five -year -old family trying to pay a set of debts. I have almost said the debts of six numbers, but we are actually under six numbers now.” Katie runs the family budget and uses a zero -based approach, ensuring that every dollar has a purpose.

Mark works full -time and is the only provider of the family. Its salaries of $ 6,500 are the backbone of its monthly budget. At this moment, their total income reached $ 13,350 from Mark’s salaries. Katie also makes $ 350 of credit card bonuses, which she plans to use in Christmas shopping.

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The largest fixed expenses for the family are their mortgage, which is $ 2536 per month. Facilities and other essentials are carefully tracked, with $ 1250 for grocery budget, $ 200 to eat abroad, $ 100 for water, $ 250 for electricity, and $ 75 for gas.

“For groceries, I allocate $ 1,250 to eat abroad, we do a budget of $ 200,” Katie said.

It also allocates $ 300 for car gas, $ 173 for phones, $ 86 for the Internet and $ 50 to garbage service. Subscriptions, including broadcasting services, a total of $ 132 per month. Debt payment is a top priority.

“Our great debts that we are trying to work on and give their fruits – we hope in November, we want to end this by November 2025, so I allocate $ 1500 to that,” Katie said.

In all, the family deducts $ 4595 on debt payments for this month, including the HIGLANERER Automotive loan and Marc Students loan. The various temporary stores of $ 100 are allocated to unexpected expenses.

Although focus on debts, the family gives priority to savings. “Our emergency fund, I allocate $ 500,” she said. The family is also preparing for annual school expenses by increasing the school box, and allocating enough to cover a school donation required for $ 1500 in December.