Poverty Challenge: Explaining The Budget
Explaining the Poverty Budget Expenses and Income Supports
State and Federal Taxes were calculated using the Salary Paycheck Calculator at http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp
The United States Department of Housing and Urban Development (HUD) estimates the “Fair Market Rent” for regions around the country. Fair Market Rent is HUD’s way of determining the average rent and utilities combined in Buffalo.
In 2010 Fair Market Rent for a one-bedroom in the Buffalo-Niagara Falls metropolitan area was $605 a month.
According to the Bureau of Labor Statistics, in 2008 consumers spent on average $1801 a year on apparel.
Divide $1801 by 365 days = $4.93 a day
According to the Bureau of Transportation Statistics, in 2010 the average cost of owning and operating an automobile (including fuel, maintenance, tires, insurance, license, registration and taxes, depreciation, and finance and assuming 15,000 vehicle-miles per year) was $8,497 a year.
Divide $8,095 by 365 days = $23.28 a day
An one month Metro Pass from the Niagara-Frontier Transportation Authority costs $64.
Divide $75 by 30 days = $2.50 a day
A monthly plan on New York State of Health, to cover an individual, was $339.57.
Divide $339.57 by 30 days = $11.32 a day
Tuition for two semesters of three classes (9 credit hours) at Erie Community College, plus fees, is $3690.
Divide $3690 by 365 days = $10.11 a day
Cable TV & Internet:
Time Warner Cable offers a Cable TV & Internet package for $74.90 per month.
Divide $70 by 30 days = $2.33 a day
According to CTIA-The Wireless Association, the cell phone industry’s trade group, in 2009 the average cell phone bill was $49.57 per month.
Divide $49.57 by 30 days = $1.65 a day
According to the American Society for the Prevention of Cruelty to Animals, the average cost of supplies for a small dog was $580 a year and $670 a year for a cat.
Divide $580 by 365 days = $1.59 a day
Divide $670 by 365 days = $1.84 a day
According to the Food and Nutrition Service of the Federal Government, the average Food Stamp benefit for an individual was $150.63 a month.
Divide $150.63 by 30.42 days = $4.95 a day
Home Energy Assistance Program:
According to the US Dept. of Health and Human Services, the average HEAP benefit in New York was $531 a year.
Divide $596 by 365 days = $1.45 a day
Earned Income Tax Credit:
Based on the Internal Revenue Service and New York State Tax Code, the combined Federal and New York State EITC for an individual would be $190.
Divide $190 by 365 = $.52 a day