A minimum essential budget for a decent living 2024 : a research study focusing on three low-income household categories

Abstract

The Minimum Essential Budget for a Decent Living (MEBDL) 2024 is the fourth in a series of studies which have been conducted by Caritas Malta since 2012. Caritas had originally embarked on this initiative to help fulfil its mission of alleviating poverty, promoting human development and advocating for social justice. At the heart of the MEBDL studies are the principles of equity, inclusion and sustainability, ensuring that a quality life based on adequate resources can be achieved by everybody. The MEBDL 2024 study is sensitive to international and national thrusts towards adopting a Wellbeing Economy which prioritises human and planetary wellbeing over GDP growth. This approach aims to create a virtuous cycle where enhanced wellbeing leads to economic benefits and where human beings can thrive yet within planetary limits. The concept of sufficiency, albeit relative, is also introduced in the MEBDL study to indicate the value of responsible consumption when ascertaining needs.