Average cost of living for a family of 4

What you need:

• calculator
• Budget book

Average cost of living for a family of 4 - realistic and analytical thinking is required to calculate this. Keeping a budget book could help you to precisely record your costs and to average them after a year.

Determine the average cost of living 

• In order to achieve a stable average, you have to meticulously record all of your expenses over a longer period of time.
• This includes all expenses that arise in a month, for example apartment, electricity, food, pets, clothing, Leisure activities, car or motorcycle.
• Enter every expense in a budget book or make a list yourself on your home computer. It is a good idea to write down exactly what you spent the money on. This will give you a reasonable overview after a certain period of time.

In a family of four, everyone should participate

• To get down to the average, set a timeframe. The process can relate to three months or to a year.


Cost of living - this is how it is calculated

For some families it is a matter of overview, others may plan the ...

• At the end of the period, add up the individual items and divide them by the period. Example: You spent 45 euros on hygiene articles in the first month, 67 euros in the second and 22 euros in the third month. That makes a total of 134 euros. You divide this sum by three as you are calculating over three months. Result: 44.67 euros. This is how much you spend on hygiene articles on average per month.
• When your children get pocket money, write down the expenses. What the youngsters spend their money on is then irrelevant. The situation is different if your children need extra money. The cost of a school trip or new books should be back in your budget.

The average cost of living for your family of four is easy to determine if you meticulously record total expenses. In this way you can have a precise overview of your financial scope and know which additional expenses are possible.