However, years ago I worked on a similar "self-sufficiency" study for the University of Colorado. We referred to our research project as the Denver Cost-of-Living Study and just like the current self-sufficiency study, our goal was to estimate a minimally-adequate budget for a single-parent, female-headed, Denver-area household without any public or private assistance. Our 1988 long-run, minimally-adequate monthly budget estimate was $19,611 (excluding taxes and saving) needed by a single-parent, female-headed household with two young children (Augostine 95). Using the online CPI calculator to adjust for inflation, today's estimate for the Denver area would be $41,052.76 (again, excluding taxes and saving).
Note that the concept of a minimally-adequate standard of living means essentially that --- no luxuries! It's somewhat above what one would consider a "subsistence level" standard, but by no means extravagant in any way. Minimally-adequate is essentially the predecessor to what we might consider "minimalist" living today, I suppose. The family's food budget is derived from the government's Thrifty Food Plan, transportation is a small, used-car, no cable TV, no pets, no restaurant meals, no vacations, mostly thrift-store clothing, etc.
The 2015 CCLP self-sufficiency index study indicates a before-tax estimate and also includes a minimal and emergency savings plan. Comparing the two studies in 2015 dollars, the before-tax Denver Cost-of-Living Study would fall within the same range as the CCLP calculation of $47,914 for a one-child household, and $57,409 for a household with two children living in Denver county (Pearce 8).
How realistic is the current CCLP self-sufficiency study? Reliable and right-on!
Works Cited
Augostine, Daurie R., MA., Modern Poverty: An Investigation of Current Needs Standards and Their Relation to Subsistence Requirements and Public Policy., 1988.
Pearce, Diana M., Ph.D., The Self-Sufficiency Standard for Colorado 2015., 2015.
