MOST OF US STRUGGLE TO PAY OUR BILLS

posted by Ron St. Pierre - 

             

Although the U.S. economy is supposedly doing well, that’s likely news to a lot of people, since a new report suggests many Americans are struggling to get by.

The study by the Urban Institute reports that 39.4% of Americans are struggling to pay for their basic needs, experiencing difficulty paying for at least one need, whether it be housing, utilities food or healthcare. What’s worse, 14% say they’ve struggled to pay for at least three of these needs. And the struggle is real not only for the poor, but for the middle class as well, which the group found surprising.

The biggest issue for most struggling families is food insecurity, with 23.3% of people saying they don’t have access to enough affordable and nutritious foods. Medical bills were also a huge issue, with 18% of respondents having trouble paying them, while 17.8% have trouble getting medical care altogether. Meanwhile, 13% have missed utility bill payments, while 10.2% have missed rent or mortgae payments.

And young adults may be struggling the most. The study finds that those under 35 where 8.6% higher to report a financial hardship. In addition, women, black Americans, Hispanic Americans and single adults are also more likely to struggle with basic needs.

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