New data from the University of Virginia exposes just how fragile our current economy is and how it is taking a toll on every class, with the working classes getting hit the hardest.
Whether it's a bad investments or cuts in retirement funds, the loss of income or benefits has some people even relying on services they normally help fund.
Seamus Campbell is a server at The Nook restaurant on the downtown mall. To save some extra cash, he cut his cable, saving him $57 a month. "That 57 bucks a month," he explained, "that almost paid my electric bill."
The reality is, household economies are fragile. UVA's Weldon Cooper Center for Public Service asked how fragile?
The center looked at the Financial Industry Regulatory Authority Foundation's Financial Capability Study, and found almost a quarter of Virginia households spend more each month on bills than they take in.
Rebecca Tippett, who worked on the data explained, "The people who are already struggling the most to make end meet were also the hardest hit by the turnaround. Those household that made less than $30,000 a year."
Tippett's data also points out that 60 percent of households in Virginia are struggling to keep a savings account, the safety net of the middle class.
"In the last 6-12 weeks the height of unemployment was about 22 weeks, so you're looking at people who are our of work for one year, two years, and try as they might, it's really hard to keep any savings in the bank," she continued.
This trend is changing the face of hunger in Charlottesville and across the country.
"We're seeing people that used to donate to the food bank, are now relying on the food bank," said Kevin Riddle of the Blue Ridge Area Food Bank.
There's also a new clientele at the Charlottesville Free Clinic.
"Families where one of the workers has had health insurance, but then that health insurance is no longer being provided by their employer or the co-pays have gotten to high," explained Erika Viccellio of the Charlottesville Free Clinic.
Tippett says there is some good news, the downturn has more people talking about how to better financially plan and hopefully save for the future.
The Blue Ridge Area Food Banks says this time of year is especially difficult for some families. With school wrapping up, kids are not getting the discounted breakfast and lunches, forcing some parents to come up with money they might not have.
