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Budgeting for Poverty

Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty. Story County, Iowa. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities.

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Budgeting for Poverty

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  1. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Story County, Iowa

  2. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. The federal government says a family of four making $22,811 a year is living in poverty. SOURCE: Federal Register, 2011

  3. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. But how far does $22,811 go today? How do you budget? What do you leave out? You make the hard choices.

  4. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty  • Housing • Utilities • Transportation • Food • Health Care • Child Care

  5. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Housing A family of four making less than $22,811 a year will spend on average $6,200 annually for the most basic of shelter. $22,811 yr. - 6,200 $16,611

  6. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty  • Housing • Utilities • Transportation • Food • Health Care • Child Care 

  7. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Utilities To keep a family of four warm and secure, the average expense for utilities and public services runs $2,900. $16,611 yr. - 2,900 $13,711

  8. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty  • Housing • Utilities • Transportation • Food • Health Care • Child Care  

  9. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Transportation A family at the poverty line will spend $5,800 a year to own and maintain a used car, and fill it with the gas and oil needed to go to work, to child care, to the store, etc. $13,711 yr. - 5,800 $ 7,911

  10. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty  • Housing • Utilities • Transportation • Food • Health Care • Child Care   

  11. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Food Even with public assistance such as food stamps, families making less than $22,811 will spend $4,400 a year for food at home and away. $ 7,911 yr. - 4,400 $ 3,511

  12. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty  • Housing • Utilities • Transportation • Food • Health Care • Child Care    

  13. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Health Care Even if an employer contributes part of the costs of health insurance, a family of four at the poverty line would still pay, on average, $2,700 a year for health and medical expenses. The cost of not having health insurance, however, could be devastating. $ 3,511 yr. - 2,700 $ 811

  14. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty  • Housing • Utilities • Transportation • Food • Health Care • Child Care     

  15. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty Child Care The costs for child care for two children, five and under, can reach over $12,000 a year. Even with child care subsidies, low income families with two small children will spend on average $3,000 a year. $ 811 yr. - 3,000 Source: Economic Policy Institute, November 2005 - $ 2,189

  16. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Budgeting for Poverty So now you’re $2,189 over budget, and you still don’t have everything you need. Education Toiletries Recreation Cleaning Supplies Life Insurance Shoes Furnishings Entertainment Birthdays School Supplies Holiday Gifts Clothes

  17. Mid-Iowa Community Action, Inc. Helping People. Changing Lives. Building Communities. Poverty These are the decisions that people are forced to make every day when they live in the state of poverty.

  18. Poverty Additional notes from the class readings…

  19. Poverty in Rural America

  20. The Poverty Pie Chart • Nearly two-thirds of all poor people (130% of poverty line) work at least 27 weeks. • Most persons of these persons are seeking work when they are not working. • About 15% of all poor people work full time. • About 25% of children in America live in poverty. • About 13% of the elderly live in poverty. • Some persons cannot work because of physical, intellectual, or emotional disabilities.

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