financial poverty

Financial poverty refers to a lack of sufficient financial resources to meet basic needs such as food, shelter, clothing, and healthcare. It occurs when individuals or families do not have enough income to maintain a minimum standard of living, often leading to challenges in accessing essential services and opportunities. This condition can result from various factors, including unemployment, low wages, or economic downturns, and can perpetuate cycles of disadvantage. Addressing financial poverty involves improving access to education, job opportunities, and social support to help individuals achieve financial stability and independence.