Income
OPEN YOUR HEART
LEND YOUR MUSCLE
JOIN THE MOVEMENT
Promoting financial stability and independence
11.1% of all working households in Monmouth County are considered lower-income (income less than 250% of the federal poverty line.) Many do not earn enough money to meet their basic needs and are just barely getting by. They have no ability to save for college, retirement or a home. Even one unanticipated expense can lead to a crisis.
The Self-Sufficiency Standard developed by The Legal Services of New Jersey Poverty Research Institute measures the real cost of living (how much money is needed for a family of a certain composition in a given place to adequately meet their basic needs) without public or private assistance. For example, in order for a single adult in Monmouth County to be considered self-sufficient, they must earn at least $12.61 per hour while the minimum wage per hour in New Jersey is $7.25. A single adult with a preschooler and a school-aged child must earn $28.26 per hour, the equivalent of an annual income of $59,683. Two adults with an infant and a preschooler must earn $16.39 per adult the equivalent of an annual income of $69,219.
| Monthly Costs | 1 Adult | 1 Adult Preschooler School-age |
2 Adults Infant Preschooler |
| Housing | $977 | $1,217 | $1,217 |
| Child Care | $0 | $1,491 | $1,665 |
| Food | $245 | $555 | $694 |
| Transportation | $285 | $291 | $559 |
| Health care | $133 | $339 | $384 |
| Miscellaneous | $166 | $389 | $452 |
| Taxes | $394 | $957 | $1,064 |
| Child Care Tax Credit (-) | $0 | -$100 | -$100 |
| Child Tax Credit (-) | $0 | -$167 | -$167 |
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Self-Sufficiency Wage
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| Monthly Expenses | $2,220 | $4,974 | $5,768 |
| Hourly Wage | $12.61 | $28.26 | $16.39 per adult |
| Annual Income | $26,643 | $59,683 | $69,219 |
The community and family issues that stem from the economic and financial pressures facing individuals and their families are growing increasingly complex and more difficult to address. By tackling the underlying root causes we can help to empower lower-income households achieve financial independence.
A presentation and discussion on the Income Impact plan was held on October 8, 2009.
View the Full Income Impact Plan
View the Income Announcement Presentation
A Mandatory Income Technical Assistance meeting, for those interested in applying for Income Impact funding was held on January 28, 2010. At that meeting the following RFP’s were discussed and distributed which were developed as part of the Income Impact plan:
- Financial Stability Initiative
- Overcoming Barriers to Employment
- Supportive Employment
All agencies interested in applying for Income Impact funding through these RFP’s must have attended the Technical Assistance meeting.
ARRA 2009 Tax Benefits
Get the latest information on energy, education, new vehicle and homebuyer credits that are available to help households save money. Go to www.irs.gov and click on Tax Benefits of the American Recovery and Reinvestment Act of 2009.
2-1-1
For help with a problem or to help others, dial 2-1-1, UWMC's free and confidential community service line, 24 hours a day or visit the NJ 2-1-1 website www.nj211.org and search their online database.
Born Learning
Want to find out how young children learn? Or get ideas for using everyday activities as learning moments? Born Learning helps parents, grandparents and caregivers enrich early learning.
Learn more about the UWMC Born Learning program
Five Ways You Can Live United
1. Read to children in your family, at your library, or with a local non-profit engaged in child care or literacy
2. Bring a child in your life to a bank to have a tour and open up a savings account.
3. Volunteer to prepare tax returns for low-income families
4. Buy pedometers for your friends and have a fun competition for who can walk the most steps.
5. Purchase personal care items such as deodorant, toothbrushes and soap and drop them off at the local homeless shelter