| ▲ | joshuamorton 3 hours ago | |
This isn't really indexing in the same way that the CPI is indexing. Alice pulls medians from other surveys (so it uses what I assume to be CPI food and CPI housing data, though they may also use other things), and then includes childcare and healthcare costs with some (imo) pretty painful assumptions, and then tacks on a random 10% "misc" category. It does a good job of creating a very high estimate of costs. As one example, I looked at the housing cost for an suburb I'm familiar with, and it lists the housing cost for a single individual as nearly $1800, you can pretty easily find 1BR apartments for 1-1.2K in that area, and utilities aren't going to run $600/mo, and you can pretty easily go cheaper. And then again after doing that it tacks on a "misc" 10% budget item. I wouldn't call it a good estimate of "what people really need" and also it consumes the basket of goods, it doesn't compare to it. | ||