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Food is a an unavoidable expense.
"Do I need to spend $2,000 on a flat-screen TV to be happy?" Likewise, consumers will still buy cellphones because the device is now considered an unavoidable expense by many, said Ross Rubin, an analyst with NPD Group.
As the cost of funerals has nearly doubled in the last decade, one fifth of the 500,000 families who are bereaved each year are struggling to afford the unavoidable expense of a funeral – the cost of dying is rising seven times faster than the cost of living.
For instance car ownership is an unavoidable expense for poor rural families and how, precisely, can one allocate occupational standing to the unemployed, the housewife, or the retired?
Similar(56)
Then subtract other unavoidable expenses such as course books and equipment.
The middle class is under pressure, too, battered by stagnating incomes and unavoidable expenses like medical bills.
Using modern, sophisticated measures that take into account government programs as well as unavoidable expenses, like child care and out-of-pocket medical costs, the poverty rate has actually been higher over the last three years than the official statistic suggests.
To manage variable needs those unavoidable expenses that come up on an irregular basis it is best to maintain some emergency savings and to purchase various forms of insurance.
Aspiring to own your home is further complicated by the exorbitant price of rent – when bills and other unavoidable expenses are added to the cost of my modest accommodation, just keeping my bank balance in the black is a considerable challenge.
It reverses the traditional insurance model by taking a fixed fee out of monthly policy payments, pays reinsurance (and some unavoidable expenses) and uses the rest for paying out claims.
It includes benefits received from government programs intended to reduce poverty, such as food stamps, energy assistance, the Earned Income Tax Credit and excludes taxes and other unavoidable expenses, such as out-of-pocket medical costs.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com