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Farm and Family Living Income and Expenses for 2003

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In 2003 the total, noncapital, living expenses of 1,102 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $48,159–or $4,013 a month for each family (Table 1). This average was 8.3 percent higher than 2002 and 11.4 percent higher than in 2001. Another $4,749 was used to buy capital items such as the personal share of the family automobile, furniture, and household equipment. Thus, the grand total for living expenses averaged $52,908 for 2003 compared with $48,855 for 2002, or a $4,053 increase per family. The average amount spent per family for capital items was $369 more, while noncapital expenses increased $3,684 per family. The sample farms, which were mainly grain farms, were located primarily in central and northern Illinois.

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