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Open in new window When Creating 2018 Budgets, Keep In Mind Family Living Costs

Dwight Raab, Brandy Krapf, Bradley Zwilling, and Bailey Fletcher ( October, 2017 )

Summary

In 2016, the total noncapital living expenses of 1,333 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) average was $76,916--or $6,410 a month for each family. This average was 2.1 percent lower than in 2015. Another $5,344 was used to buy capital items such as the personal share of the family automobile, furniture, and household equipment. Thus, the grand total for living expenses averaged $82,260 for 2016 compared with $84,779 for 2015, or a $2,519 decrease per family.


Details

Organization farmdoc
Publisher University of Illinois
Publication Date October, 2017
Publication Views 376
Material Type Written Material

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