You might be amazed to find out what families are up against these days. While high prices affect us all, more local families are pushed to the limit.
Some were already struggling, working hard to keep up but falling further and further behind. Other families had always managed … until recently. These are neighbors who never could have imagined ever needing The Salvation Army’s help.
Here are some of the hurdles families are facing.
High Food Costs
Whether well-off or struggling, families of the same size generally need the same amount of food. That’s why food costs will “eat up” a higher percentage of a struggling family’s budget. Add to this the fact that lower-income areas tend to have fewer food purchasing options, leading to less price competition and sometimes the added expense of traveling further to buy food.
*Source: Economic Research Service U.S. Department of Agriculture
Soaring Rent
Inflation, a shortage of new construction, and higher interest rates mean that more families have been priced out of buying homes and must continue to rent. This has driven rents up, creating an even higher hurdle for families to clear each month.
The Perfect Storm
Food, fuel, and rent — these are not only necessities, but expenses that tend to be heavily impacted by inflation. These additional costs combine to overwhelm many families already struggling.
No Cushion
For many families who were struggling before prices went up, it was still possible to save a small amount of money for an emergency. Now more of those families are simply unable to save anything after covering the basics. As a result, they’re just one repair bill or medical expense away from crisis.
The Credit Card “Tax”
When a paycheck won’t stretch far enough to cover all expenses, some families have no choice but to purchase food or other essentials using a credit card. They then have to pay the additional costs of interest payments.
Struggling Families Need Your Help
Did you know that, according to the U.S. Government Accountability Office, personal credit card debt in the U.S. recently hit a new all-time record? Even so, 1 in 5 children in our country still face food insecurity.
This is why the support of caring people like you is so important. You can help keep families from becoming a statistic. You have the power to lift hardworking neighbors up over the hurdles, providing meals, emergency assistance, and encouragement.
Just think of what that means — especially for the children, who feel it the most when a family falls into crisis.
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