A married couple in their early 40s, living in the Bronx, New York, has found themselves in a financial bind despite earning a combined annual income of nearly $175,000. The couple, who have a 9-year-old daughter and a puppy, struggle to make ends meet with no assets and a paltry $200 in savings. Despite a relatively modest rent of $3,007, which amounts to 22% of their take-home pay, their monthly fixed costs devour a staggering 83% of their income, leaving little room for savings or financial growth. Struggling with High Fixed CostsAccording to the most recent Consumer Expenditure survey from…
