For the most part, the most difficult part of abiding by a set budget, regardless of the available resources and necessary expenses, would be unexpected circumstances that aren’t covered in the budget. For example, the death of a family member can be costly (funeral expenses, loss of household income if the deceased is a provider, etc.). Acts of God are typically not covered on most types of rental or homeowner’s insurance, which is not even listed in the budget. Other difficult events could be a result in the financial provider’s wellbeing (or lack thereof). Such examples could include constant changes in employment or mental issues which prevent someone from using responsible money-managing or life-managing skills.
Cutting back the consumption of food and leisures could help balance the budget a little more effectively. This would not likely result in the starvation of children or family members. However, this can easily affect their physical developments and how well they function. Transportation is another expense that could be cut, assuming that the family owns one or more vehicles. This may be inconveniencing, but a city the size of Buffalo, New York surely has effective means of public transportation. Additionally, children will be able to take school busses as needed.
Based on the provided chart, the provider of a family would likely be working a position in which they would not need to be academically qualified or certified in any way. I believe that a change in direction concerning one’s line of work can play the largest role in the amount of money that comes in regularly. Additionally, the family may also consider cheaper alternatives to the expenses that are in the budget. This could include the types of auto insurance they have, the types of medical insurance, child care, etc. While changing these particular services might not matter too significantly, they will continue to be constant, thus lowering the annual budget.
The children of this mother are not likely to have very high standards of living. It is likely that they go without eating at times and are likely not around their mother very much. This is reflected through the expense of child care. The scarcity of money may give the mother a sense of hopelessness and worry, not knowing what else to do to better provide for her children. As a result, she may become gradually more apathetic to the situation regarding the welfare of her children.
Statistically, low class upbringing breeds lower class citizens. It is likely that the children will likely grow up to serve minor roles in society similarly to their mother. This is a proven statistic that is reflected especially through minority communities. The problem is not a matter of background or ethnicity, it is a matter of poverty. As such, the children will likely either go on to breed further poverty in the future, or else be motivated enough to completely overcome their stereotypical circumstances. While it is likely that they will find some kind of job at some point in their adulthood, the chances of attending college or even graduating from high school are much lower.
The advantage of relying on alternative sources of income varies between circumstances. If this income comes from loans or other borrowed sources, the only real advantage is having the money available upfront. The disadvantage is obviously being able to pay it back, most likely under the same income as when the money was received. If this income comes from welfare, the primary benefit from receiving it is the sheer entitlement to it. In a sense, as long as a person meets the income criteria for their municipality, they are rewarded for it financially. In my opinion, the greatest disadvantage is that it enable recipients to not make any progress in terms of their financial situation.