To determine the hourly wage required to meet the family's basic needs, we need to calculate the total monthly expenses.
Total monthly expenses = food and groceries + medical + housing + transportation + monthly taxes + other necessities
Total monthly expenses = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67
Total monthly expenses = $5,775.08
To calculate the hourly wage required to meet the family's basic needs, we divide the total monthly expenses by the number of working hours in a month. Assuming a 40-hour workweek and a 4-week month:
Total working hours in a month = 40 hours/week * 4 weeks/month = 160 hours/month
Hourly wage required = Total monthly expenses / Total working hours in a month
Hourly wage required = $5,775.08 / 160 hours
Hourly wage required = $36.09
Therefore, a working full-time, the adult needs an hourly wage of $36.09 to meet the family's basic needs.
Items Cost
food and groceries $821.33
medical $751.33
housing $1,324.17
transportation $1,251.00
monthly taxes $882.58
other necessities $745.67
The table shows the monthly basic needs budget for a 2-child
family with 1 working adult in Fort Worth, Texas.
Determine what hourly wage, working full-time, is required
to meet the family’s basic needs. Round to the nearest
hundredth.
1 answer