In our society the term social inequality is a broad term used to describe the difficulties certain groups and genders of people face each day. The assignment we were given was to analyze the level of income of a certain type of family. My group was tasked with creating a budget for a family of four, two parents and two boys (8 and 12 years old). The level of income we were given was that both parents were both working full-time and for minimum wage. Our budget was to include such aspects of the family’s lifestyle as, childcare, monthly amount spent on food and even the personal grooming. This document will be discussing the initial budget that was created for this family. Followed by description of the revised budget and then a reflection
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The initial step in which the money would be spent was towards an affordable place of living. The family moved into a 4-½ apartment in Laval spending around $753 on the apartment itself. From the intial budget the family was spending $165 on electricity. This was already a large portion of the monthly income being spent on the housing, which later led to some sacrifices for the entire family. Another priority to this family was the amount spent of food each month. The family spent around $556 after tax on food each month; this amount spent would still not be enough to sustain a family this large spending only around $185 each week on food. In our groups opinion the family needed a car in order for the parents to get to work and perhaps give the children a lift t school each day. The car that was chosen was a 2016 Jetta which was another $207 not including the money required for gas and car insurance. The affects of our family spending the way they initially did left them in debt by about $80. Being this far in debt means that certain sacrifices needed to be made. The children would not be able to attend many birthday parties because they had no money for gifts. Another sacrifice was the children’s education, without a large enough income the children had to go to a public school in which the education was not the absolute best. Being in debt as well mean that the parents would not be able to …show more content…
Compared to the other families in our class the family that we were given was ranked much lower than expected. This family was very limited on what they were able to do. Although they were still able to own a car and have insurance in the end there were man things they were not able to do. It is clear from this assignment that those who are born into wealth have a better standard of living. The families that are wealthier tend to not have to think about such things as their debt and if there will be food on the table that evening. The truth in our society is that life is not fair and those who are born into wealth will no have to face the same glass ceiling effect as those who are poor. This assignment has given me insight into the altercations that certain families face day in and day out in our society. This assignment has allowed me have more empathy towards those who are less fortunate. This insight is true outlook on certain people’s lives rather than saying that people are lazy and should just try
The initial step in which the money would be spent was towards an affordable place of living. The family moved into a 4-½ apartment in Laval spending around $753 on the apartment itself. From the intial budget the family was spending $165 on electricity. This was already a large portion of the monthly income being spent on the housing, which later led to some sacrifices for the entire family. Another priority to this family was the amount spent of food each month. The family spent around $556 after tax on food each month; this amount spent would still not be enough to sustain a family this large spending only around $185 each week on food. In our groups opinion the family needed a car in order for the parents to get to work and perhaps give the children a lift t school each day. The car that was chosen was a 2016 Jetta which was another $207 not including the money required for gas and car insurance. The affects of our family spending the way they initially did left them in debt by about $80. Being this far in debt means that certain sacrifices needed to be made. The children would not be able to attend many birthday parties because they had no money for gifts. Another sacrifice was the children’s education, without a large enough income the children had to go to a public school in which the education was not the absolute best. Being in debt as well mean that the parents would not be able to …show more content…
Compared to the other families in our class the family that we were given was ranked much lower than expected. This family was very limited on what they were able to do. Although they were still able to own a car and have insurance in the end there were man things they were not able to do. It is clear from this assignment that those who are born into wealth have a better standard of living. The families that are wealthier tend to not have to think about such things as their debt and if there will be food on the table that evening. The truth in our society is that life is not fair and those who are born into wealth will no have to face the same glass ceiling effect as those who are poor. This assignment has given me insight into the altercations that certain families face day in and day out in our society. This assignment has allowed me have more empathy towards those who are less fortunate. This insight is true outlook on certain people’s lives rather than saying that people are lazy and should just try