Times have sure changed. In the 1950s everything was much similar. You had one house, one income, and one car. Today, it’s a lot different. Many people can barely afford a home, in fact millions of Americans are living in poverty.
This extreme change in our economy has created something called the two income trap. Basically, it means that we are almost forced to have two incomes to afford the cost of living today. However, if we were to lose on of those incomes we would be trapped, and not be able to afford our way of life.
This infographic illustrates the two income trap and how things have changed since the 1950s to today.