The two income trap pdf download

Software Images icon An illustration of two photographs. Images Donate icon An illustration of a heart shape Donate Ellipses icon An illustration of text ellipses. The two-income trap : why middle-class mothers and fathers are going broke Item Preview. EMBED for wordpress. The nation is now on a trajectory where one in seven families will go bankrupt by the end of the decade.

And while the modern, two-income family earns 75 percent more inflation-adjusted than the one-earner family of a generation ago, it actually has less discretionary income and far more financial instability. When you say that one in seven middle-class families will go bankrupt by , people wonder how this can be.

The bidding war for housing has inflated the cost of middle-class life to the point that once they have paid the mortgage and other fixed expenses, families have little discretionary income left — and less margin for error. The real spending increases, Tyagi says, are for housing, health insurance, a second car, preschool and college education.

And even when you add in all those dinners out, families are spending less on food when you adjust for inflation than they did a generation ago — more than 20 percent less. I find that pretty surprising. You forget that our mothers took us to Stride-Rite to buy a new pair of leather shoes every three months.

How should families protect themselves from the two-income trap? Families with no extraordinary problems such as unemployment or illness who nonetheless find themselves struggling to meet their day-to-day expenses should take a hard look at cutting their fixed costs, however painful that might be. Add a review Your Rating: Your Comment:. Hot Transmetropolitan, Vol. Lone Wolf by Jodi Picoult.

Fly Trap by Frances Hardinge. Why are mothers the only group of women worse off financially now than a generation ago? In this excellent book, Warren and Tyagi tell the shocking story of that trap, and offer real hope for a better future. The book is brimming with proposed solutions to the nail-biting anxiety that the middle class finds itself in: subsidized day care, school vouchers, new bank regulations, among other measures.

Department of Education. On the contrary, both incomes are almost entirely committed to necessities. The authors recommend a number of useful societal solutions to get families out of this trap.

The solutions and advice it provides might change the financial future for you and your children, today, tomorrow, and forever. It is a sound policy document.