POOR MIDDLE CLASS AFFORDABLE HOUSING

 

Affordable Housing
Poor Middle Class Affordable Housing is hard to find. But it is a top financial survival toolkit priority. Without it, poor middle class people can fall into the following crises:
• unable to pay bills
• end up in debt
• go hungry nutritionally by eat mostly cheap, unhealthy food
• become homeless
• unable to get proper medical care
• suffer from all of the above

What Is Affordable Housing?
According to Wikipedia, affordable housing is:
affordable housing
The Definition of Affordable Housing According To Wikipedia.com

Finding Affordable Housing
Our search for poor middle class affordable housing was a nightmare. In fact, it was the hardest part of our financial survival journey. This is because of the following aspects of it:
• the amount of paperwork involved
• a time-consuming application process
• the bureaucratic qualification procedure
• pressure due to our tight deadline

poor middle class affordable housing available by lottery or application
Affordable Housing Available by Lottery and Application from http://www.nyshcr.org/

What Is Subsidized Housing?
According to Wikipedia, subsidized housing is:
• a government sponsored system of economic assistance programs
• designed to alleviate housing costs and expenses
• meant for people in need
• designed for low to moderate income families, seniors and the disabled
• often called, ‘affordable housing’ in the United States

According to Wikipedia, subsidized housing is:

affordable housing
A definition of Subsidized Housing according to Wikipedia

Subsidized Housing Programs
There are several forms of subsidies:
• direct housing subsidies
• non-profit housing
• public housing
• rent supplements
• some forms of co-operative and private sector housing

affordable housing
Section 8 Housing In The South Bronx from Wikipedia.com. Photo by Jim.Henderson

Those who qualify to apply for subsidized housing must be:
• Families in financial need
• Seniors aged 55 and above
• Disabled people over a certain age

There are two types of management, either government or privately run.

What is Senior Housing?
Senior housing is housing available to independent seniors, aged 55 and older. It is usually subsidized. As a result, it is more affordable than market value housing.
affordable housing
Independent Senior Living Defined by Wikipedia.com

Seeking Senior Housing
There is a huge amount of research and paperwork involved in applying for senior housing. In fact, it is the worst part of the process for us. Each housing project requires its own application. Because of this, I was very overwhelmed. Just the thought of it stopped me from applying originally. But eventually, relocation became an emergency. We were hard pressed to find an affordable place to live. Because municipal senior housing units had several years waiting lists, we did not know what to do. We were on the verge of homelessness.

Here is our strong recommendation. Don’t let this happen to you. Apply for senior housing years before you think you may need it.

Poor Middle Class Affordable Housing
Affordable Senior Housing Becomes Scarce As Boomers Age from SocialSolutions.com

Fortunately, a private senior facility had a vacant unit. Much to our relief, we were accepted within two weeks. But there was one drawback. The only units available were studio apartments. In spite of the size, we grabbed one. As a result, we were set up in our new home within a few weeks. After that, it took another two and a half years to get a one bedroom apartment. When that happened, we felt like we had moved into a palace. In the summertime, we see nothing but tree. It feels like we live in a tree house. It is like heaven.

section 8 is considered affordable housing
Housing Choice Voucher Program, Section 8 Housing from HUD.gov

Section 8 Housing Vouchers
Large apartments buildings and multi-family homes accept Section 8 Housing Vouchers. According to Wikipedia:
poor middle class affodable housing
Section 8 Housing According to Wikipedia

A New Home
Our subsidized apartment is modest. There is no dishwasher. In addition to that, there is no terrace or yard for growing food. There is nowhere to make a compost heap for food garbage. But best of all, having a roof over our heads is a blessing. In addition, we have made a home here. There is a saying, ‘home is where the heart is’.

The next post, Alternative Living Resources begins exploring unique housing opportunities.

affordable housing
‘Home Is Where The Heart Is’ Amish Quilt

 

 

 

Sources & Resources
Viper Tool Storage Company

Subsidized Housing

Affordable Housing

Latest Affordable Housing in NYC Thanks to Mayor di Blasio

Section 8 Housing Voucher Program

Affordable rental units

Affordable Housing

Deal Aims to Keep a Former Welfare Hotel in Manhattan Affordable

Housing Search in NYS

Section 8 Housing Voucher Program

What Is Independent Senior Living?

Affordable Senior Housing Becomes Scarce As Boomers Age

10 Places to Retire and Pay Less Taxes
Senior Living Guide

‘Home Is Where The Heart Is’, Amish Quilt

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A BUDGET IS A CRUCIAL FINANCIAL SURVIVAL TOOL FOR THE POOR MIDDLE CLASS

 

The Importance of A Budget

Creating and sticking to a budget is the poor middle class financial survival tool that allows for clarity and transparency. It is crucial. The best way to start is with pencil and paper. Determine your major budget categories. Transferring them to a computerized bookkeeping program is simple. We have actually set up our computerized bookkeeping system based on the following categories plus additional subcategories. It works very well for us. But you can stay with a manual spreadsheet if you prefer.

How to set up a budget
Free Online Accounting & Bookkeeping service from www.accountingdiy.com

 

 

 

 

 

 

 

 

 

 

Setting Up Expense Categories

This is how we have been able to come up with a budget. We set up a bookkeeping system. First, we add up our income. From there, we have a clear picture of how much there is available to spend. Then we set up our expense categories. Everyone has their own profile based on their life, family and needs. These are the major categories we use:
• HOME
• FOOD
• TRANSPORTATION
• PERSONAL
• FUN, ENTERTAINMENT & VACATION

Within each of these major categories, we have set of subcategories that reflect our expenses:

HOME
• Rent
• Household
• Utilities

Budget for housing is a crucial financial survival tool
Senior Housing from https://mortgagelawyers.wordpress.com/2010/12/07/distressed-underperforming-senior-housing-projects-turnaround-management-loan-workouts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOOD
• Groceries
• Breakfast/Lunch/Snacks

A Food Budget is a crucial Financial Survival tool
Cartoon Food from Clipart kid

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TRANSPORTATION
• Auto Insurance
• Gas
• Maintenance
• Public transit

A budget for transportation is a financial survival tool
Transportation from Dreamstime.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PERSONAL-HUSBAND & WIFE (EACH HAS THEIR OWN LISTING BUT WITH THE SAME CATEGORIES)
• Personal items/hobby
• Rx copay
• Medical
• Dental Care
• Supplements
• Life Insurance

A budget for the family is an essential tool for the financial survival toolkit
Man and woman on the couch from Dreamstime.com

 

 

 

 

 

 

 

 

 

 

 

 

 

FUN
• Eat Out/Celebrate
• Entertainment/Culture
• Vacation

a budget for fun, entertainment and vacation are essential for a financial survival toolkit
Island Vacation – Cartoon Island With Seagulls from 123RF.com

What’s Next?

You may find, as we have, that your expenses exceed your income. As seniors on fixed incomes, as young people working more hours but earning little money, as breadwinners who has lost their livelihood, this may be your challenge too. The additional posts in this blog series will be devoted to a solution. That solution is building and implementing your financial survival toolkit.

 

 

 

Sources & Resources

Debt Free Adventure

Beginner Bookkeeping

Debtors Anonymous

Senior Housing Turnarounds

The Viper Tool Storage Company

Continue Reading