Monetarily-dependent

Monetarily-dependent describes a situation or individual reliant on financial resources for their well-being, sustenance, or continued operation. This dependence can stem from various factors, including income, investment income, support from others, or government assistance. It highlights a vulnerability where a change in financial circumstances could significantly impact their living standards, opportunities, or even survival. The degree of dependency can range from partial, where finances supplement other resources, to complete, where all aspects of life hinge on money. The term emphasizes the critical role money plays in their ability to meet essential needs and achieve desired goals. A monetarily-dependent entity requires a continuous flow of financial resources to function effectively and address any financial challenges.

Monetarily-dependent meaning with examples

• The elderly couple was heavily monetarily-dependent on their fixed pension and struggled when faced with unexpected medical expenses. They relied on their monthly checks and found it difficult to manage when their finances dwindled because of illness. They had saved what they could, but the constant cost of assisted living and medication had exhausted their savings.
• A small non-profit organization running an animal shelter was monetarily-dependent on donations and grant funding to cover the costs of feeding, housing, and caring for the animals. Any disruption in funding directly affected the number of animals they could help. The organization depended on donations and grants to supply resources for veterinary bills and staffing for operations.
• Following the economic downturn, many families became monetarily-dependent on government assistance programs like food stamps and unemployment benefits to provide basic necessities. The loss of jobs and the rising cost of living created new levels of economic hardship within their community. They became dependent upon these resources.
• Freelance writers are often monetarily-dependent on securing clients and completing projects promptly to generate income and pay their bills. The fluctuating nature of freelance work brings uncertainly. If their workload is not consistent they have difficulty surviving economically. Finding new projects and maintaining relationships with clients is critical to their livelihood.