As a young woman with debt, rising rent costs, gas prices, and utility bills occasionally make me doubt whether I will be able to afford the things in life I long for. Despite working a full-time job and being frugal with my money, times of financial instability have made me reconsider basic quality-of-life choices like whether I can visit family on holidays.
Affordability is top of mind for women, especially those who are responsible for other family members. In most households, women make the spending decisions — from groceries to housing to extracurricular activities for kids. They are most concerned about affording housing, healthcare, and other basic needs such as utilities. According to a New York Times survey, 70% of women think a middle-class lifestyle is out of reach for most people in America, and 40% of women think the life they should be able to afford is out of reach for them.
In recent years, what used to be considered a normal lifestyle has become unaffordable. A quarter of American households live paycheck to paycheck, and only 47% of Americans can cover an emergency expense. Current generations are paying more of their income than ever to afford necessities such as housing and education. In a rapidly changing world, policies that support affordability are more important than ever.