(WXYZ) — From the outside, you wouldn’t think the Hernandez’s upper-middle-class world was filled with financial hardship.
But Joe Hernandez works two jobs so his wife Adrienne can stay home with the kids. Together they have 6 mouths to feed and lately their combined costs have been much more.
“It’s not really a bloody story, it’s just a stressor for us,” Joe said.
“We’re really sitting on this idea that 7.5% anything isn’t really true, I think for larger families that have a lot more consumables.”
Joe Hernandez is a numbers guy by trade and he says that even though he makes a lot of money, he can’t seem to outrun inflation.
He says living on a strict budget is their only option.
“I would transfer money and try to keep it limited,” Joe said.
Management professor Michael Greiner says middle-to-upper-class families notice the impact of inflation even more.
This is because increases in income come at a rate lower than inflation. In turn, their real income decreases and they can no longer afford as much as before.
“It’s the kind of thing where people look and start to really worry about the future,” Greiner said. “So I think that’s something among average families. They’re feeling very intensely right now.”
The Hernandezes say they will have to make cuts in the future. This includes no restaurant meals, fewer family outings and a delayed car upgrade.
“Everything has been price adjusted, so what we had expected, we’re now falling short,” Joe said.
However, the couple say they haven’t lost sight of each other.
“It’s harder for the others,” Joe said.