Avoid Poverty

[Dr. Shane]

Four Things To Do To Avoid Poverty

(adapted from Walter Williams)

1. Finish High School

2. Do Not Get Involved With Criminal Activity

3. Do Not Have Babies Out Of Wedlock. When You Get Married, Stay Married.

4. Get A Job And Keep It.

Statistics show that nearly all of those in poverty have not followed one of these four things. A married couple in the US with two children and both parents working will be living above the poverty line even if both parents only earn minimum wage.

Isn't that a message for our youth?

[Amelia]

I tried to avoid poverty but it got loose and jumped all over me.

[Yong T Tay]

Quote:

"A married couple in the US with two children and both parents working will be living above the poverty line even if both parents only earn minimum wage."

This is not true. I have seen many married couple, with or without children, both working earning above minimum wage, could not make ends meet. They spent more than they earn. They have too many credit cards. The paychecks they got barely enough to pay the high rated interest. They are sinking more and more in debts. My advice is get rid of those credit cards, buy only things what you need, don't buy things that you want. You need to know how to balance your budget. If you earn $1,000.00 a paycheck, the most you should spend for everythings is $800.00 and save $200.00. Over time, those $200.00 saving each paycheck would bring you out of poverty. On the other hand, if you earn $1,000.00 a paycheck and spend $1,200.00. That extra $200.00 spending over time will make you poor for the rest of your life. Your life will be forever miserable.

[Dr. Shane]

2003 HHS Poverty Guidelines

The poverty line for a family of four is $18,400. If both spouses are working full-time for federal minimum wage ($5.15) they would earn $21,424/year.

Now if the have another child and become a family of five the poverty line moves to $21,540. So then they would be just below the poverty line.

[Dr. Shane]

BTW: I grew up in a poor home. My father was in and out of jail because of DWI. My mother didn't finish high school. They both got divorced. They both jumped from job to job. So between the two of them, they broke every one of the four rules. Little wonder we were so poor

[Amelia]

2005 HHS Poverty Guidelines

Persons in

Family Unit- 48 Contiguous States and D.C. -Alaska- Hawaii

1- 9,570- 11,950- 11,010

2- 12,830- 16,030- 14,760

3- 16,090- 20,110- 18,510

4- 19,350- 24,190- 22,260

5 -22,610 -28,270- 26,010

6- 25,870- 32,350- 29,760

7- 29,130- 36,430- 33,510

8- 32,390- 40,510- 37,260

For each additional

person, add 3,260 4,080 3,750

[:"green"]* wow, Im really poor <img src="/ubbtreads/images/graemlins/sad25.gif" alt="" /> [/]

[Dr. Shane]

What I didn't include is the EIC or earned income tax credit which is for families earning less than $35,458 ands can add as much as $4,000 to their annual income.

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Alaska minimum wage is $7.15 so our two-parent working family would be earing $29,744/year before the EIC. In Hawaii it is 6.25 which comes out to $26,000 before the EIC for our two-parent working family.