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The Two-Income Trap WHY MIDDLE-CLASS PARENTS ARE GOING BROKE

The Two-Income Trap WHY MIDDLE-CLASS PARENTS ARE GOING BROKE. SINNETTE, GERALYN ENGLISH 1301 #97776 7:00 PM – 8:00 PM TTR PROFESSOR HORN. Why is this important to me?.

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The Two-Income Trap WHY MIDDLE-CLASS PARENTS ARE GOING BROKE

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  1. The Two-Income TrapWHY MIDDLE-CLASS PARENTS ARE GOING BROKE SINNETTE, GERALYN ENGLISH 1301 #97776 7:00 PM – 8:00 PM TTR PROFESSOR HORN

  2. Why is this important to me? • The Two-Income Trap was informative and helped to dispel some myths about the type of persons who file for bankruptcy, the “over-consumption” myth, as well as exposing the credit industry.

  3. What is your response to it?I agree! • Two-income families today differ from their counterparts three decades ago. • An unexpected expense to the family budget such as a layoff could result in a financial crisis. • The mortgage is the largest monthly expense, and most people cannot quickly adjust their budget in the wake of a financial crisis.

  4. What is the author saying? Middle-class is going broke! Parents are trying to provide a safe environment and a good education for children. Families lack the safety-net of the stay-at-home mom. Bankruptcy is painful and can have a long-lasting effect on the family. Financial institutions prey on families who are already in debt by offering second mortgages and credit cards at high interest rates.

  5. “The Myth of the Immoral Debtor” The authors dispel the myth that people who file bankruptcy are over spenders. Bankruptcy does not carry the shame it once did in the past. Going Alone in a Two-Income World Mothers often have to remarry to regain financial footing. Not all dads are “deadbeats.” Mortgaging the Future Minority homeowners are at the most risk. High interest rates on credit cards make debt inevitable. Three Major Points in My Book Report

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