Minimum income standards

Minimum income standards refer to the estimated amount of money individuals or families need to cover essential living costs, such as food, housing, clothing, healthcare, and transportation, to maintain a basic but decent quality of life. These standards are developed through research and surveys to ensure that people can meet their fundamental needs without hardship. They act as a benchmark for policymakers, social services, and researchers to assess poverty levels, plan support programs, and evaluate living conditions, ensuring that financial assistance aligns with actual living expenses.