DALLAS: Families with children are doing well in most well-being indicators, but are under significant financial stress.
Increasing living costs are giving rise to the “middle-class poor”, an expert says, as a new report shows a large chunk of families are under financial stress.
The report looks at well-being for six family types.
43 per cent had high housing costs, it found, and 38 per cent had housing problems.
Grandparents were increasingly living with family to help out due to the rise of the middle-class poor.
Families could have two “decent salaries” but still struggle due to living costs and child care costs.
According to the report, older couples, one or both being at least 50 years old, did well overall, rating highly on most indicators of well-being with 88 per cent satisfied with their standard of living.