When the last national census was taken in 2010, 48 percent of the population was classified as poor or low-income (earning less than 200 percent of the poverty level).
Anyone who’s ever tried to live on a low income knows how difficult it can be to make ends meet when cost increases for essentials like health care, housing, food and energy outpace their earnings. This can be especially challenging for seniors living on a fixed income.
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Jason Alderman directs Visa’s financial education programs. Follow him on Twitter at PracticalMoney.