{"id":112,"date":"2024-06-05T18:03:00","date_gmt":"2024-06-05T23:03:00","guid":{"rendered":"http:\/\/lubbock-sucks.local\/?p=112"},"modified":"2024-06-06T14:06:54","modified_gmt":"2024-06-06T19:06:54","slug":"report-shows-nearly-half-of-lubbock-county-households-face-financial-insecurity","status":"publish","type":"post","link":"https:\/\/lubbock-sucks.local\/news\/report-shows-nearly-half-of-lubbock-county-households-face-financial-insecurity\/","title":{"rendered":"Report shows nearly half of Lubbock County households face financial insecurity"},"content":{"rendered":"\n

https:\/\/www.kcbd.com\/2024\/06\/05\/report-shows-nearly-half-lubbock-county-households-face-financial-insecurity<\/a><\/p>\n\n\n\n

A new report from United Way shows 49% of households in Lubbock County face financial insecurity. 19% of those families fell below the federal poverty line, while the remaining 30% were considered to live paycheck-to-paycheck with no room for saving.<\/p>\n\n\n\n

Together, the 49% falls under the ALICE category – which means Assets Limited, Income Constrained, Employed.<\/p>\n\n\n\n

\u201cIt\u2019s our families who at the end of the month have to go \u2018okay are we going to pay the electric bill or are we going to buy groceries? Are we going to send our kid to football camp or are we going to pay the credit card bill,\u201d Libby Linker, the Director of Community Engagement for Lubbock United Way, said.<\/p>\n\n\n\n

The latest ALICE report shows data from 2022. Between 2021 and 2022, it shows a 5% increase in Lubbock County homes reaching ALICE status.<\/p>\n\n\n\n

\u201cWe\u2019ve seen pandemic tax support go away, we\u2019ve seen those additional dollars in our family budgets go down, we\u2019ve seen prices go up, and wages haven\u2019t necessarily been able to offset that,\u201d Linker said.<\/p>\n\n\n\n

As part of the report, United Way calculated a \u201csurvival budget\u201d. That number represents the basic cost to live and work in Lubbock County. In this latest report, that number was $81,204 for a dual income family with two children.<\/p>\n\n\n\n

\u201cWe consider the folks that fall in between this ability to save, to have a comfort level with finances all the way to federal poverty as ALICE,\u201d Linker said.<\/p>\n\n\n\n

While the prospect of a growing city such as Lubbock could bring hope for new jobs to ease the financial burden so many face, Linker says root issues will need to be addressed first.<\/p>\n\n\n\n

\u201cWe know as our community continues to grow we\u2019re going to have to grow along with it and address these needs and gaps within our community,\u201d Linker said.<\/p>\n\n\n\n

United Way acknowledged the impact financial insecurity can have on mental health and family dynamics, saying the organization will use the data to better support the community.<\/p>\n\n\n\n

\u201cEquipped with the ALICE data, we can do even better to advocate for effective policies, invest in solutions, and track our progress toward reducing financial hardship in Lubbock County and the surrounding area,\u201d Linker said.<\/p>\n\n\n\n

Additional report insights include:<\/p>\n\n\n\n