The Minimum Income Standard

The Minimum Income Standard (MIS) is a benchmark that defines the amount of money households need to cover essential living costs, including food, clothing, housing, healthcare, and social activities, to participate fully in society. Developed through research involving people from various backgrounds, MIS reflects what is considered a decent standard of living. It helps policymakers and organizations assess whether income support programs are adequate and understand the true cost of living, ensuring that individuals and families can meet their basic needs without hardship.