#financial-burden

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Your IRS refund could take years if you were a victim of ID theft. The national taxpayer advocate wants that fixed

Taxpayers suffering from identity theft experience severe refund delays, particularly affecting low-income individuals who rely on refunds for basic living expenses.

Homeowners are paying more for insurance and taxes than their mortgages, study shows

Homeowners are increasingly burdened by insurance and property taxes, often paying more than their mortgage.
32% of average mortgage payments now go to taxes and insurance, the highest since 2014.
#low-income-households

Many Americans spend over 15% of their income on energy bills

Many low-income Americans face energy burdens, spending over 15% of their income on energy bills, impacting their basic living expenses.

New York City Plans to Wipe Out $2 Billion in Medical Debt for 500,000 Residents

New York City plans to eliminate over $2 billion of medical debt for up to 500,000 residents in partnership with RIP Medical Debt.
The program aims to address the financial burden of medical debt on low-income households and individuals with inadequate insurance.

Many Americans spend over 15% of their income on energy bills

Many low-income Americans face energy burdens, spending over 15% of their income on energy bills, impacting their basic living expenses.

New York City Plans to Wipe Out $2 Billion in Medical Debt for 500,000 Residents

New York City plans to eliminate over $2 billion of medical debt for up to 500,000 residents in partnership with RIP Medical Debt.
The program aims to address the financial burden of medical debt on low-income households and individuals with inadequate insurance.
morelow-income-households
#healthcare-costs

'I have to pay to get better': Out-of-pocket costs of cancer for people in Canada tallied in new report | CBC News

Cancer treatment costs create financial burdens, forcing patients to choose between health and basic living expenses. Vanessa Percoco's story highlights this issue.

How to Cope With the Financial Toll of Cancer

Financial toll of cancer is significant and can lead to 'financial toxicity' for patients and families.

'I have to pay to get better': Out-of-pocket costs of cancer for people in Canada tallied in new report | CBC News

Cancer treatment costs create financial burdens, forcing patients to choose between health and basic living expenses. Vanessa Percoco's story highlights this issue.

How to Cope With the Financial Toll of Cancer

Financial toll of cancer is significant and can lead to 'financial toxicity' for patients and families.
morehealthcare-costs

'The hidden financial costs of having cancer are crippling' - survivor appeals for more supports for patients

Cancer patients face significant financial burdens during treatment, including transport and parking costs.
There is a call for increased support for cancer patients to alleviate financial strain.

'It's a 1950s attitude' - mum on Carer's Allowance means test that hinges on her husband's salary

Rebecca O'Riordan highlights the financial inequality faced by family carers like herself in accessing higher education due to lack of Carer's Allowance.
#economic-impact

Childcare now costs more than housing in all 50 states

Child-care costs exceed rent and mortgage payments, indicating a deepening affordability crisis affecting families nationwide.

Brooks: Why are we gambling with America's future on national debt?

Interest payments on federal debt are skyrocketing, surpassing even the defense budget, posing a significant financial burden on the government and citizens.

Childcare now costs more than housing in all 50 states

Child-care costs exceed rent and mortgage payments, indicating a deepening affordability crisis affecting families nationwide.

Brooks: Why are we gambling with America's future on national debt?

Interest payments on federal debt are skyrocketing, surpassing even the defense budget, posing a significant financial burden on the government and citizens.
moreeconomic-impact
#student-loans

A 38-year-old with $38,000 in student debt tells other generations, 'I highly recommend finding a way to avoid taking out loans'

Borrowers are struggling to readjust to federal student loan payments after a suspension during the pandemic, leading to budget cuts and side jobs.

How To Tackle Student Loan Debt and Be Financially Free in Retirement | Entrepreneur

Student loan debt in the US has reached $1.766 trillion, impacting millions of Americans, with the average federal student loan balance being $37,718.
The problem of student loan debt is multi-generational, affecting even those aged 50 and above, and could have long-term implications on retirement funds and wealth-building for future generations.

A 38-year-old with $38,000 in student debt tells other generations, 'I highly recommend finding a way to avoid taking out loans'

Borrowers are struggling to readjust to federal student loan payments after a suspension during the pandemic, leading to budget cuts and side jobs.

How To Tackle Student Loan Debt and Be Financially Free in Retirement | Entrepreneur

Student loan debt in the US has reached $1.766 trillion, impacting millions of Americans, with the average federal student loan balance being $37,718.
The problem of student loan debt is multi-generational, affecting even those aged 50 and above, and could have long-term implications on retirement funds and wealth-building for future generations.
morestudent-loans

NBC News highlights rising costs of elder care, aging in place

A record number of Americans reaching 65 highlights the financial burden of elder care in America.

How SMEs can tackle late invoices - London Business News | Londonlovesbusiness.com

The Fair Payment Code aims to support small businesses by addressing late payment issues and promoting timely transactions to alleviate financial burdens.

56% of California renters slammed by housing costs vs. 35% of homeowners

Over half of California tenants pay 30% or more of their income for housing, exposing a significant financial burden.
California renters particularly face mounting housing costs, being the state with the highest number of burdened households.

Morning Joe Crew Mocks Trump $100K Watch Line: Very Expensive' To Be Team MAGA

MSNBC's Morning Joe crew humorously criticized Trump's latest merchandise, emphasizing its high costs and questioning its impact on supporters.

In The US, Unpaid Maternity Leave Costs Moms Almost $10k

Motherhood is undercompensated in the U.S., with many taking unpaid leave that costs about $9,480 on average.
from SFGATE
4 months ago

Jennifer Lopez and Ben Affleck's $68 Million Mansion Comes With Shocking Monthly Costs

Jennifer Lopez and Ben Affleck are facing significant financial burdens after their divorce, particularly from maintaining their expensive mansion.

Hundreds of families caught by seven-year inheritance tax rule as gifts trigger unexpected bills

Inheritance tax bills on gifts are rising due to the complex seven-year rule, often leaving families unprepared for unexpected financial burdens.

Eton College to raise fees by 20% after VAT introduction

Eton College is raising fees by 20% in response to new VAT on private education, significantly impacting tuition costs for families.

Return to office trend sparks warning for millions of Aussie workers as dismal 'financial burden' exposed: 'It's coming'

More Australian workers may be forced back into the office, sparking outrage and financial burdens due to long commutes and increased costs.

It can be a trap' to carry mortgage debt into retirement: USA Today

Mortgage debt in retirement can be a financial trap for seniors, impacting their financial security and retirement plans.
from New York Post
7 months ago

A family of four could easily spend $860 for a day at Yankee Stadium, $523 at Citi Field: Post analysis

Families face significantly increased costs at Citi Field and Yankee Stadium for tickets, parking, and concessions.

Adams, Hochul remain silent on NYC congestion pricing, pretend their just bystanders to legal graft

The congestion tax in NYC below 60th Street is criticized for being an expensive money grab impacting residents and businesses.

What No One Tells You About Parenting

Parenting is challenging and costly, requiring more resources than anticipated.

Woman's Canadian citizenship revoked after 32 years amid federal 'error' | CBC News

Federal government cancels woman's citizenship over 30-year-old error, leading to financial burden and legal complications.

Chelsea have an 85m problem that shows no sign of abating

Chelsea is facing a dilemma with Romelu Lukaku's return due to a high fee and age concerns.

Mayor Adams heading to Texas this weekend as economic toll of migrant surge weighs on NYC

Mayor Eric Adams heading to southern border to draw attention to financial burden of migrant crisis on NYC.
City Hall pressuring Biden administration to increase federal funding for migrant influx.

Her air-ambulance ride wasn't covered by Medicare. It will cost her family $81,739

High cost of air-ambulance rides can leave families with substantial bills, even for those with insurance.
Patients with private insurance coverage are protected by the 2020 No Surprises Act, limiting the amount billed by air-ambulance providers.

This London borough has the cheapest council tax

Council tax across the country to increase by up to 4.99 percent in April
Wandsworth in London offers the cheapest council tax rate, likely to be the lowest in the country

Surge in parents racking up debt for childcare: Procreation is financial suicide'

Increasing numbers of parents accumulate debt for childcare costs in England.
Single parents with children under five face a more severe financial burden for childcare.

Families are being financially wiped out by out-of-pocket costs for dementia care

Dementia care in the US is expensive, leading to high out-of-pocket expenses for patients and families.
Adults with dementia spend a significant portion of their income on residential care and nursing homes.

Opinion | Why So Many Kids Are Priced Out of Youth Sports

Youth sports can be expensive and time-consuming, with travel sports being particularly costly.
Many parents struggle to afford the expenses associated with youth sports and find it difficult to manage the time commitment for their children's activities.

A New Study Reveals Just How Much Return-To-Office Mandates Are Costing Workers: A Month's Worth Of Groceries

Return-to-office mandates are costing workers an average of $561 a month.
Workers are spending extra money on commuting, childcare, pet care, and household services due to return-to-office mandates.

Oregon Department of Corrections ends practice of charging prisoners for medical devices

The Oregon Department of Corrections stopped making prisoners pay for medical devices, reimbursing thousands after legal actions.

First-time homebuyers: From 2023 challenges to 2024 realities

First-time homebuyers in 2023 faced financial challenges with a significant increase in monthly payments, risking higher credit burden and constrained spending decisions.
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