Why young couples think $10,000/month is poverty level

Dear Chuck,

Many young couples we know at church have really good jobs, but they are struggling to keep up with their expenses. What would you advise us to do when they ask for our help?

Living Within Our Means

Dear Living Within Our Means, 

I saw the post of a “personal finance influencer” on X recently that claims young couples earning $10,000/month in combined household income are at the “poverty level.” Below is part of the post; let's take a look at the math and analyze the problem:

A normal 2026 monthly budget for couples in their 30s:

Housing: $2,500
Food: $1,400
Transportation: $1,450
Healthcare: $980
Childcare: $1,283
Student Loans $1,000
Total $8,613.

This is why people feel that making $10,000/month is poverty.

Maybe you can spot the challenges with these numbers, too: 1. Food cost must include lots of eating out. 2. Transportation must include expensive car payments. 3. Student loan debt is hanging over their heads as well.

While inflation is a problem that needs to be addressed, more often than not, the problem is not too little money but too much lifestyle.

Many young people are living like they’re rich instead of living within their means. They like the lifestyle of the rich, but they are maxed out on credit cards and unable to plan for the future. They live paycheck to paycheck due to influencers on social media or worldly friends. I have found they often have a distorted view of their finances, lack self-control, or are financially illiterate. Many are unaware that by changing lifestyle choices, they can live differently, have more margin, and feel less stressed.

They need to see that God has a different plan for us. His financial principles are given to guide and protect us. Young and old need to know that this is not our home. The here and now is temporary, and how we manage all that God provides determines our eternal life and rewards.

How you can help

First, do not criticize or condemn your friends; rather, set the example. Invite them into your lives and show them the ways you manage your budget and make good choices.

Also, consider leading a Crown Study in a small group of your young couple friends. During a session, ask everyone to bring food that is homemade versus purchased at a store. Issue a challenge to see how little they can spend on their item (cookies, muffins, snacks, etc.) versus if they had someone else make it. It is often eye-opening. 

Suggest a Crown Budget Coach, but expect them to pay the small fee for materials upfront. After they complete the program, come alongside them and encourage their faithfulness with their budget.  

Some common mistakes to discuss

• Spending before giving or saving.
• Carrying credit card debt.
• Impulse spending.
• Recurring subscription fees.
• Car loans.
• Student loans.
• Eating out too often.

Provide practical advice

• Take control of the money God has entrusted to you.
• Acknowledge that it is His and accept the responsibility to manage it wisely.
• Obey God’s financial principles, even if they don’t seem reasonable.
• Ignore how the world (and some friends) are spending money.
• Limit or eliminate time spent on social media.
• Set specific short and long-term goals.
• Enjoy sacrificing together to achieve your goals.
• Break habits and start new ones — the sooner the better!
• Recruit a small group of committed people to join you.

The reward of investing vs the stress of impulse spending

Investing $100 monthly at a 12% yield would earn over $1 million in 40 years. If delayed five years, investing for 35 years would yield $645,000. See this chart. For more calculators, go here. Compound interest is sometimes called “the eighth wonder of the world.” However, those who spend all their money will never know what that means.

Find some great success stories

One couple I know made great progress by living like they were poor! They learned to be satisfied with what they had and developed great financial habits. Most older people will tell you not to accumulate stuff because you will eventually have to sell it, store it, or give it away.  

Warren Buffett believes in living modestly. He once said, “Most behavior is habitual, and they say that the chains of habit are too light to be felt until they are too heavy to be broken.”

Rather than waiting until dire circumstances force one into changing how money is handled, I propose forming healthy money habits as soon as possible. Biblical financial principles that are practiced day after day, week after week, and month after month will eventually become second nature. Stress will be reduced; joy and security in Christ will increase.

“One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much. If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? And if you have not been faithful in that which is another's, who will give you that which is your own? No servant can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money” (Luke 16:10–13 ESV).

If credit card debt is a financial burden for your friends, suggest they reach out to Christian Credit Counselors. They are a trusted partner of Crown and are able to help consolidate debt and get one on the road to financial freedom.