Ugh, inflation.
At first, it was supply chain constraints and now there might be other issues at play. Either way, the cost of goods and services are skyrocketing and that is especially bad news for our low-income neighbors in the mid-valley. If you’re a family that is living paycheck-to-paycheck or a family with less, continued inflation causes prices to soar even higher. Low-income families are looking for a lifeline to afford their basic needs.
Even though prices are similar for everyone regardless of income, low-income people spend a larger percentage of their money on everyday costs. For example, a family of four bringing in around $5,500 a month might spend $600 on groceries every month. Their groceries are around 11% of their monthly costs. A family of four bringing in $2,000 a month also spending $600 allocates 30% of their monthly income to groceries. This leaves low-income families with less money to spend on the rest of their essentials. No expense can be considered a small expense if you are unable to afford it.
There are large macroeconomic factors impacting our economy. Individually, we don’t have much control over our country’s fiscal policy, industrial production, or employment numbers. Even so, there are ways to help families through these rough economic times! You can donate to our Family Fund, purchase items on our needs list, and volunteer with us! These are small ways you can help be part of the solution that ends homelessness for a family.
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