Have your grocery runs been busting your budget lately? You’re not alone. Data from 2024 indicate that grocery prices have jumped a stunning 25.8 percent since November 2020, and many Americans are feeling the pressure. Take eggs, which have shattered their old highs: a carton of eggs that cost $2 in November 2020 increased to $3.08 in March 2024. This is just one example of the inflationary trend we’ve all witnessed these past few years, which makes it harder to acquire the basic necessities of day-to-day life.
Such trends hit single-income households particularly hard. Because our economy is now built for dual-income households, single-income households generally have less cash to work with. They also face the worrying possibility of losing all income if the working parent loses their job. As the economy has transformed over time, the number of sole breadwinners has dwindled, but even today, many families take this approach, often for good reason.
