Median Family Income
 

Since I have a growing family, (6) I was checking into family Median income in the US.

This site is from 2006 US CENSUS BUREAU http://www.census.gov/hhes/www/incom...eandstate.html
It is broken down by states, which should take better account for cost of living differences.

I am interested in knowing if our AFF families reflect the median. Please go to the site and check out your state.

For example here is my state:


Missouri Estimate Margin of Error
Total: 53,026 +/-561
2-person families 47,589 +/-684
3-person families 54,914 +/-1,303
4-person families 63,274 +/-1,514
5-person families 63,346 +/-3,208
6-person families 60,257 +/-4,089
7-or-more families 60,721 +/-8,515

Re: Median Family Income
 

BTW this poll is anonymous. No need to discuss particulars at all unless you wish.

Re: Median Family Income
 

hoovie, what does median income mean?

Re: Median Family Income
 

A little different than average I think.

It means half earn more, and half earn less than this number.

It is generally seen as more accurate than averages, because a few drastically different numbers cannot sway the outcome as much.

Re: Median Family Income
 

Ours is slightly above.

Re: Median Family Income
 

I find this type of "Family Income" chart more useful than the per capita numbers for employed people.

Granted, it does not show how many people in that family are working, or whether full or part-time, nor their level of education etc.

Re: Median Family Income
 

Whoa, if half earn more and half earn less, and two halves make a whole, where did the guy in the middle come from????

Re: Median Family Income
 

LOL! :o In this case the "guy" is just a theoretical number.

Re: Median Family Income
 

Interesting. I think we should move to Puerto Rico so we could be considered UPPER middle class.

Re: Median Family Income
 

I'd really like to get to know some of you "much greater" folks better, myself... :toofunny

Re: Median Family Income
 

Interesting poll numbers right now... 8 "greater than", and 8 "less than"... looks like AFF might actually be a sampling of the country in regards to their income.

Re: Median Family Income
 

We are a family of two in Ohio.
I receive a pension from General Electric based on 32 years of service and my wife and I both collect Social Security and we are right around that median figure for a family of two.

Re: Median Family Income
 

I am a 4 person family living on a 2 person family income...But I live in Louisiana so that should tell ya something...lol

Re: Median Family Income
 

If two people from Louisiana get a divorce, are they still cousins?

Just kidding......

Re: Median Family Income
 

No ChTatum thats Arkansas...lol

Re: Median Family Income
 

I'm above median for a single person, I answered the poll according to figuring up me and my girlfriends income based on if we were family with her three daughters (which we practicly are). That figure puts us 50% greater.

Curiosity: How come the medians spike at 4 person family's then drop back down on most??

Re: Median Family Income
 

HEY !!!! I resemble that remark !!

My cousin happens to be nice looking :D

Re: Median Family Income
 

Yeah, I noticed that too. Possibly some try to pull off two incomes when they have a couple kids, but when they have four (or 24) it becomes impractical.

Re: Median Family Income
 

I suspect most who have much less than the median don't have internet access at home and therfore wouldn't participate on boards as much. ;)

Re: Median Family Income
 

I normally use Alabama, but in deference to Bro. Scott.....

Re: Median Family Income
 

I think the more telling number whenit comes to how well a family is doing finacially is not incmoe, but rather the families debt/income ratio. I don't know very many peopel at all who have legitimate income problems. I know a multitude however that can't make ends meet because they ran up debt problems.

Re: Median Family Income
 

Well see whos shoulders should it fall on I mean when you apply for credit for something they look at you debt/income ratio so what happens when they approve you cause your debt/income ratio was good but your still not able to make ends meet.

Re: Median Family Income
 

Are you saying you are not responsible for your decisions?

Re: Median Family Income
 

I'm a big fan of personal responsibility. You dig your own holes, you should climb your own way out.

Our society has grown more and more weak towards making people pay for their own stupidity and it has created an environment of laziness and feelinglike the Fed should just bail out everyone. Everyone expects someone else to pay for them when they get buried in debt.

You get a mortgage, you are responsible to pay your mortgage. If you can't...you lose your house. It's no ones fault but your own. No one held a gun to ones head and demanded they sign the papers to take on the loan. No one demanded you buy a couple new vehicles. No one demanded you get multiple credit cards and run them up to max. No one demanded you buy lots of "toys" on credit or "rent-to-own". We make our own choices, and even if they are dumb and get us in lots of trouble, we will never learn our lesson if someone else bails us out.

Re: Median Family Income
 

No not saying that but if you cannot afford it the people you are trying to borrow from should see that and not approve you.

Re: Median Family Income
 

Of course, you should know you can't afford something and refrain from attempting to purchase it, too, rather than letting someone else decide your budget for you...

However, sometimes people get so far in the hole they can't get out on their own. Many times surprise bills take a person down. (Many people who I've known to file bankruptcy were deeply in debt for medical expenses, for instance.)

I think both businesses and individuals need to be more responsible both for their borrowing and lending.

Re: Median Family Income
 

I ran into something odd with two major purchases. The first was a mortgage. I asked the bank if they would lend me x amount. They said yes. I refused to let them tell me my limit. So my realtor called them and got the limit anyway, then pushed me to buy the biggest house I could afford. I never went back to that realtor. But I have to admit, it was quite an ego burst to find out how very much they would have leant me.

The second was another large purchase. I told the loan company to push the loan thorugh before I lost my job. And they did. I almost went under as a result. Both me and the loan company should have known better.

Re: Median Family Income
 

I see no reason to put the blame on the mortgage companies or banks. You are the one and I am the one responsible for our decisions. If we bit eoff more than we can chew....we are the ones who should have to choke on it.

Re: Median Family Income
 

Yes, but some mortgage companies failed to explain mortgages to people. They said their loan would be, say $600/mo. And the buyer said that was fine, because their rent was almost that. So they get their first statement, and discover the loan of $600 is really $850-the $600 is before PMI, taxes, and insurance! They also forgot to calculate in some other minor expenses... they would be responsible for the $900 plumber bill when the water heater went out, and the $750 for electrical repairs when the tree fell on their power line during an ice storm, for instance... Ask, and you should be told these things. Fail to ask, accept the initial word from the bank, and you will end up with major trouble. If you are going to place full responsibility on the individuals, then every individual should be required to spend an hour with a financial advisor (from an outside agency) before signing a mortgage or making any other major purchase.

Think about it. We have people in the US that believe everything they read in The National Enquirer or that comes through on their e-mail. They fall for Nigerian scams and give information to toner-phoners. How can we expect them to check the specifics of a loan, when a bank or realtor said thus-and-so?

Re: Median Family Income
 

Net worth numbers rarely speak much of ones income, but most always speaks of ones planning, frugality and management skills. (unless big money is inherited)

Income only speaks of potential.

Re: Median Family Income
 

Many people are better off renting - and income is not the greatest factor to consider.

Re: Median Family Income
 

that should be a quote of the year somewhere.

Re: Median Family Income
 

That thought crossed my mind too, but I think it's less true than just a few years ago.

I have always been amazed that the very poor make things like cable or satellite TV and priority.

I know several who have lost their homes, but not internet and TV service!

Re: Median Family Income
 

I am considered low income. I do not have internet or TV service in my home, at this time mainly because I can't afford it. I am online though through my work and I have a laptop that automatically picks up open access internet in many places... including in my home.

In my work though, I have to go over the finances of people applying for charity health care. I am always amazed at the people who pay high cable and internet monthly. They always have cell phones too...yet can't pay their medical bills and are on foodstamps.

I have cell phones too, but no home phone. I always say, you put your money where you want it. ;)

Re: Median Family Income
 

Those are the ones that Obama wants to get to know better too so they can help people like me pay my bills.:nutso

Re: Median Family Income
 

You have a "growing" family? You mean you ain't done yet?

Re: Median Family Income
 

Just look at that fancy brick house you've got in your avatar, Jason. That place is huge. You could probably run laps around the inside.

Re: Median Family Income
 

:) well at any rate... they are "growing" up and eating more all the time!

Re: Median Family Income
 

Checked our state, 2 person family, our income is higher

Re: Median Family Income
 

While I'm not rich-- I don't live from paycheck to paycheck.;)


Recently read an article on an increase in those getting free school lunches. If I was a family of four, I wouldn't qualify.:rolleyes: