雅虎香港財經 3 Key Signs You May Be Closer to Poverty Than You Think, And What To Do About It
According to the Department of Health and Human Services (HHS), the federal poverty level for a family of four is $31,200. Yet with rising food, healthcare and housing costs, middle-class families are struggling to survive even if they don’t qualify for assistance due to their income level.
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“The federal poverty line is garbage.” Tepper Bates, United Way of Connecticut President told The Wall Street Journal. “We wonder why there’s so much anger in public discourse today, and it’s in part because of the stress people feel to just keep themselves and their families afloat.” United Way of Connecticut operates half of the country’s 211 call centers and estimates the survival budget for a family of four is really about $126,000. The organization came up with the figure using the local cost of housing, groceries, child care, healthcare, transportation, technology, and taxes.
Middle-class income ($52,000 to $155,00 per SmartAsset) isn’t cutting it for many families. Here are key signs you might be living closer to poverty than you thought and what to do about it.
1. You Can’t Afford a Medical Bill
Samantha Daley, a high school administrative assistant, suffered a miscarriage in November. A few days into her recovery she was hit with a $2,500 hospital bill.
“Literally, as I’m reading this bill, I’m like, ‘Well, I’m going back to work tomorrow. There’s just no other option,'” Daley told the Journal. “I’m getting the extra-heavy sanitary pads ready so I can walk into work as half a human.”
What to do: Many hospitals have interest-free payment plans and offer financial assistance. Additionally, people who buy health insurance from HealthCare.gov, may qualify for subsidies, which reduce the monthly payment.
2. You Can’t Buy Food
44 million people in the U.S. are food insecure, according to Feeding America which served 49 million people in 2022. Grocery bills are skyrocketing and “prices increased across meat, poultry, and fish categories in March 2024, in contrast to February when prices declined or remained steady for these categories,” per the U.S. Department of Agriculture.
What to do: Food pantries are available to anyone in need and you don’t need to show proof of income.
3. You Can’t Pay for Childcare
Working and having kids is a tough balance, and with an average weekly daycare cost of $321 (up 13% from $284 in 2022) according to Care.com, families are struggling to find suitable options for their children.
Learn More: How Much Does the Average Middle-Class Person Have in Savings?
What to do: There are several government programs to help assist with childcare costs. Visit childcare.gov for more details. Additionally, ask your employer if a Dependent Care Account is offered. It’s a type of flexible spending account (FSA) that can be used towards childcare services.
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This article originally appeared on GOBankingRates.com: 3 Key Signs You May Be Closer to Poverty Than You Think, And What To Do About It
