Low and middle-class incomes

How much money do we really make?

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Most Americans are waging between 20 to 35 thousand dollars a year. Some are considered low income earners whiles others are considered middle class income earners. There are a smaller majority of the population that receive higher wages between 100 to 250 thousand dollars a year and more; these people are in the high-income brackets. The average income can go up to 70 or 80 thousand dollars due to the higher income families. With all that in mind we now assess the normal expenditures of American families and how affordable certain necessities would be to them. High index lenses 1.74 cost between 20 to 50$ depending on the quality and style. Eyewear in general would be considered a necessity for an individual, but would they be able to afford it? How feasible would it be for them to purchase such a product?

Household expenditure

With the household expenditure being approximately between 75 to 85 thousand a year we ask ourselves what the money is usually spent on. Taxes would usually come at the top of the list in terms of expenditures. A lot of people pay a good portion of their income to the government for taxes. These taxes are put into things such as medical aid, police and disciplinary confinement, emergency services in general such as ambulance, fire services and more. Public schools are also taking a good portion of the tax contribution towards services for students. As mentioned, given the fact that medical costs are involved in the taxes the costs of certain medical products such as High index lenses 1.74 cost are not as expensive as the taxes compensate for that. Food is another expenditure that is up in the rankings in terms of costs as households put a lot into what they eat. This food expenditure includes food from home as well as outside from home as restaurants are sometimes visited which in turn increases costs for expenditures. Transportation services is a great expenditure as well as it is a necessity in order to make money, one must be able to travel outside of their home and into the workforce. Buses, subway systems, car, taxis, uber systems all contribute towards monthly transportation expenditures. An individual can choose between the multiple means of transportation to see which one would suit them best. Entertainment is also a big part of household expenditures as we live in a society where a balance between work life and fun life is clearly depicted and practiced. Going to the movies, having a night out with friends and family, going to a bowling alley or a concert or some type of pleasure driven activity would all be considered entertainment. Education, books and reading also is part of expenditures as most households seek for greater education. Personal insurance and pensions goes close to tax expenditures as well as they are funds that seem to go unnoticed but are extremely high. Person care and beauty products, clothing, apparels and services are also expenditures that households face. For those that do smoke; tobacco products with supplies play a good role within family holds as well.

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About the Author: Kathryn J. Riddell