Financial and Work Opportunities

Introduction to the Federal Poverty Level The federal poverty level definition of low income for a single-person household is $14,580 annually in 2023, with an additional $5,140 added for each additional person in the household. These guidelines are updated annually to account for inflation, resulting in a poverty guideline of $30,000 annually for a family of four. Numbers for 2023 Lower-Income Class 1 person household: $14,580 2 person household: $19,720 3 person household: 4 person household: $24,860 5 person household: $30,000 Middle Class Income What will be the middle-class income in 2023, as per the guidelines provided by the Pew Research Center? Middle-income Americans are projected to have annual incomes ranging from $38,133 to $114,400 in 2023, before considering the local cost of living and household size. For more information on calculating your net worth, please refer to the article "How to Calculate Your Net Worth." Incomes from $38,133 - $114,400 are considered

Average type  bills in American Households Rent, or Lot Fee (mobile homes): Average cost: $325 - $900+ a month House payment: $1,000+ a month Land taxes: if you own a house located on land: $1,000+ a year = $84 a month Water bill: $68+/ a month (on private property such as trailer parks) Water bill: $30+ in homes being bought or homes/apartments for rent Electric bill: $100+/month Trash bill: $60/ a year / $5 a month Internet, TV, and wifi bill: $195+/month (bundled) The cost for TV is much more affordable if you get Hulu, Amazon Prime Video, and other apps Car tags, once a year: $110 /a year / $9.17 a month (TN USA example) Car Insurance  $500 - $1000 /a year (or more depending on model) /$84 a month Home Insurance: $600+/ a year /$50 a month Car repair bill: $1,000+ /a year / $84 a month Gasoline: Approx. $50 - $200 /month Food and drink: approx. $600+ a month for 2 people and it goes up with each additional person. Total for renting: $2,379+/ month (2 people) Total for buying: $2479