SW 2000 Chapter : Poverty Budget Cutting Exercise 2014 R
Document Summary
Mel & sue smith live a comfortable middle class lifestyle in anywhere usa. Mel makes ,000 working for an electronics manufacturing company. Sue makes ,000 in sales working for a large toy company. The family has 3 kids--peter attends a private university where tuition is ,000 per year. Some of this is paid by a scholarship. The rest is paid for by an ira and the rest by the family at tuition time. The family pays for peter"s car, car insurance, and spending money. Lynette is a junior in high school and grade. Both attend private school where tuition is ,000 per child per year. Dad loses his job because the economy has tanked and is looking for another job, but nothing seems promising. Mom"s salary is all they have to live on. After taxes, the family now lives on per month (moms" salary minus taxes). () per month disposable income before dad loses his job.
