Last week I heard a startling statistic–20% of children in the U.S. are now living in poverty.

According to the Christian Science Monitor:

“The recent recession has wiped out many of the economic gains for children that occurred in the late 1990s,” said Laura Speer, associate director for policy reform and data at the Casey Foundation, as the report was released Wednesday. “Nearly 8 million children lived with at least one parent who was actively seeking employment but was unemployed in 2010. This is double the number in 2007, just three years earlier.”

Although we are not currently in a recession (as defined by economists), the economy is still struggling. With a nine-percent unemployment rate, and the number nearly double that for minorities, many people are barely making ends meet.

Despite a culture of consumerism and rappers who sometime spend more time talking about opulence rather than substance, many are forced to live on meager budgets.

But how about you, Clutchettes and Gents? How has the economy affected you? What tips or tricks can you share to make your money last longer? 

Let’s talk about it! 

 

 

Like Us On Facebook Follow Us On Twitter
  • I stretch my money by doing my own hair most of the time, shopping at 99 cent stores for body wash, shampoo, cleaning products etc., and mostly by cooking at home. This is a big one. I go food shopping on Sundays and make a few lunch and dinner dishes to get me through the week. I also carry fruit, nuts or carrots with me so that I don’t have to stop and buy snacks when I’m out running around the city.

    Most people don’t realize how much they spend on eating out. For me, cooking at home and a little planning helped me lose 27 pounds and save a whole lot of cash.