I am a new member of a new group of poor people: the college-educated, middle-aged working poor. When you make what I now make, about $1,500 take home, forget about saving any money, every cent will be spent. It’s not a lifestyle choice or lack of discipline, it’s just math. Take out $600 for rent, $400 for bills and what’s left over has to cover co-pays for my heart meds and cardiologist, food and sundries, and any unplanned expenses. That means you’re always running out of things you previously took for granted, from toilet paper to shaving cream.
Read more at Being Poor in America.