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Comparing Three Families

 

How do the three families in the article compare in respect to their financial security? What do we need to know to answer that question?

Often we use tables, graphs, or charts to organize information and to help us understand the story that numbers tell. In order to compare the financial security of these three families, you might try to put their major expenses into a chart.

Here are examples of charts that can help you see the information more clearly. You may think of other ways to do it.

 

MAJOR EXPENSES Smith Family Green Family Winter Family
Housing
Food*
Child Care
Utilities
Medical
Transportation
TOTAL

*According to the Self-Sufficiency Standard for Massachusetts, a family of four living in Boston needs $488 a month for food.

 

INCOME Smith Family Green Family Winter Family
Monthly Pay
Other (food stamps etc.)
TOTAL

 

Instructions: After filling in the information above, answer the following questions.

1. How much of each family's income is available for other expenses after they pay the rent?

2. What is the percent of income that each family pays for rent?

3. In addition to rent, what are the major expenses for each family?

4 Why do some of the families have similar expenses? Why are some very different?

5. What is left for each family to spend after all major expenses are paid?

6. Unexpected expenses often make us worry about our financial security. A sickness or accident can make it difficult for a family to survive financially. Think about each family and what possible unexpected expenses could occur. How are they similar? How are they different? Why?

Activity contributed by Judy Titzel

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The Wordsmyth English Dictionary-Thesaurus
Type in the word (or cut and paste it) in the box below. Click on Get the Definition button. You will then go to Wordsmyth's Web site. Note: To return to this page, click on back.

 

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Updated 10/01 Questions, comments, or problems please contact Steve Quann