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SOLE BREADWINNER: WHAT IT IS AND WHAT IT IS NOT
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With an income-earning scenario like this, it is definitely true when we say that it’s tough being the only person who earns money to support an entire family. Overall, there is little optimism that incomes will grow again like it used to before the 2009 crisis. On the other hand, mean household income (take-home pay after taxes and other mandatory contributions and is use to gauge the standard of living) is even lower at $32,195. The 2011 median income (use to gauge the wealth of the citizens) of $50,054 was already adjusted for inflation and was 8 percent lower in the decade peak of $54,489 recorded in 2007. Imagine the burden if you are a sole breadwinner, what with a queue of financial obligations like paying all sorts of utility bills, buying the family’s daily needs, fulfilling major payouts like mortgage and children’s school fees, not to mention shelling out some good dollars for unplanned expenses when sickness, injury or disability occurs.Īmerican household income level (combined incomes of all people earning in one family) is at its all time low this decade. The unstable job market, changes in family structure with more and more single-parent households, and the practicality of having one parent stay home and care for children are all factors in being a single-income household.įor most Americans in double-income households, it’s a tough act to combine average monthly earnings, make both ends meet and still come up with a good enough savings. Being the breadwinner – and the sole financial provider at that, is not a choice especially in these hard and trying times.