A family of three for $500 a month is a lot higher than ours. We are a family of four, our monthly expenses is about $150. Hyperinflation could be one of the reason why a family of three would need $500 a month.
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Greetings! Well, one also has to take into account that I compare the prices to other Latin American countries, it is quite common for people from Colombia to come here to study due to the low prices in comparison, and these prices are not so different in other Latin American countries. I am of course taking into account expenses such as renting a place, transportation, and having extra money for recreational activities. Of course, I live in a big city, there are other cities that are cheaper.
$150 is impressive! I have a family of three, we spend around $300 per month.
Oh, I was wrong, I should say we are spending $300 per month, not $150. But still, it is quite less than $500.