Linda Hoy, Retired CPA
Co-founder & Board Treasurer, Making An Impact
According to a recent Commonwealth report*, more than 80% of Americans agree that financial insecurity is a big problem in today’s uncertain economic climate. Even in a period of relative economic stability, three in four reported personal experience with financial insecurity at one point in their lives and 30% were currently experiencing it. Many people have lost the peace of mind of financial security over the past year, as the Coronavirus pandemic ravaged jobs and elevated health care costs. These are definitely uncertain financial times we are living in.
There are some causes of financial insecurity that are beyond a person’s control and at no fault of their own, such as the rising cost of living that we are currently experiencing, wage stagnation, and racial and gender pay disparities. However, some causes of financial insecurity are of our own making, such as excessive and reckless spending and not adhering to a proper budget.
Thankfully, there are plenty of federal, state, and local resources out there for you and your family that can make your recovery easier. If you are having difficulty paying your bills, putting food on your table, having affordable housing, etc., the Making An Impact Community Connections Guide has a comprehensive listing of community resources offered in Manatee, Sarasota, and South Sarasota counties categorized to fit your specific need, covering topics such as education and literacy, employment, financial, utility and other assistance, food, housing, etc… just to name a few.
Please take the time and learn what is offered on the national, state, and local levels to relieve the burden of living paycheck to paycheck. Know with hard work and perseverance this time will pass if you take the necessary steps to live in financial freedom.
*Perceptions of Financial Insecurity in America: National Survey of Working People in the United States, Released 7/30/20