Caritas study: Family of four needs €19,153 a year to survive on basic budget

A family of four, with two adults and two children, needs a minimum €19,153 a year to live a ‘decent life’ in Malta, according to the latest Caritas study on decent living.

Caritas Malta has released the fourth edition of its Minimum Essential Budget for a Decent Living (MEBDL) for 2024.

This study, first introduced in 2012, aims to determine the cost of a basic basket of goods and services necessary for individuals to lead a decent life.

The Basic Basket for 2024 covers eight essential categories: food, clothing, personal care, health, household goods and maintenance, education, culture and gifts, transport, and subsidised social housing.

The Augmented Basket includes additional costs such as dining out once a month, owning a car, living in unsubsidised rental accommodation, occasionally ordering snacks for home consumption, and pet care.

The annual cost of the Basic Basket for the three different households is as follows:

• Two adults with two dependent children: €19,153.00
• Single parent with two dependent children: €17,012.83
• Couple aged 65 and over: €14,731.79

The annual cost of the Augmented Basket is:

• Two adults with two dependent children: €33,176.50
• Single parent with two dependent children: €30,724.33
• Couple aged 65 and over: €26,556.29

The pricing for the baskets was conducted between February and May 2024, with a focus on promoting personal health while respecting environmental resources.

Food expenses accounted for the largest portion of the basket costs, ranging between 30% and 56% for all three household types.

The report also includes 31 policy recommendations covering initiatives, education, and research.

The ultimate aim of MEBDL 2024 is to provide a comprehensive picture of what constitutes a decent living for low-income families in Malta, thereby inspiring policies and strategies that promote social justice, economic equality, and sustainable, dignified living.

The 2024 edition builds on previous studies by maintaining a similar methodology and focuses on two key objectives.

The first is to review and update the essential components within the basic basket required to achieve a decent living standard in Malta.

The second is to calculate the minimum budget needed for three types of low-income households: two adults with two dependent children, a single parent with two dependent children, and a couple aged 65 and over.

The adults are considered to be between 30 and 45 years old, while the children are of primary or secondary school age (9-15 years).