Paying Over 90% Of Take-Home Pay On Living Expenses

There are estimated to be tens of millions of people who live in different rural communities around the US, altogether estimates suggest there are between 45 million - 60 million residents living in these areas.

This makes it about 1 in 5 Americans who are living in rural areas.

Right now these communities are struggling greatly, with some estimates suggesting that they are spending over 91% of their take-home pay on living expenses. Income for individuals living in these areas has also dropped, compared to incomes in urban regions, and millions are fighting just to keep a roof over their head, food in the fridge, and up to date on their bills.

Meanwhile their government has recently sent tens of billions of dollars to Ukraine without even asking the people if they supported such a move.

Many are paying the price for the harmful decisions that others have made with regard to central monetary policy and the economy.

While things continue to deteriorate for the average working individual who might now have 2 or 3 jobs, who could be standing in the food bank line for the first time, and they wonder if or when they might end up homeless, they are perpetually told by the media and others that things aren't that bad.

To add insult to injury there are even some twisted spins on the narrative that want to suggest this out of control inflation might even be a good thing.

We see that little responsibility has been taken and they are still working to get hold of that inflation and bring it to within their intended range. They had a job to do and they failed miserably and now plenty of confidence has understandably been eroded because of that. Will they be able to gain it back?

Those who said they were looking out for the best interest of the people, and who were tasked with doing just that, have failed them in numerous ways instead. Mistakes were made, many of them, and now millions of Americans who had nothing to do with it are paying the price.

With so many Americans living paycheck to paycheck it means they aren't prepared for any emergency that might come up and there is also no end in sight yet for those prices that have continued to rise either.

Pics: pixabay This is not to be taken as financial advice and has been posted for information purposes only.
sources: https://www.bloomberg.com/news/articles/2022-07-13/us-inflation-accelerates-to-9-1-once-again-exceeding-forecasts https://www.cnbc.com/2022/08/01/as-inflation-surges-more-americans-are-living-paycheck-to-paycheck.html https://www.foxbusiness.com/personal-finance/older-americans-concerned-inflation