Here’s why –
Despite having “recovered” from the Great Recession (can you believe that happened a decade ago?!); and…
despite having the highest median income in history (~$58,000 a year); and…
despite impressive gains in the economy; and…
despite economists saying that we’re coming up on “full employment” (meaning that the unemployment rate is as low as can be expected) —
a report released last week tells a sad tale of our financial well-being.
A heartbreaking number of Americans are financially fragile.
43% of Americans are having a tough time making ends meet.
More than 1/3 of us face serious material hardships, like struggling to pay for groceries or necessary medical treatment.
Even 20% of people in the AVERAGE range for financial well-being, report occasional difficulty with paying for basics like food.
These numbers make me wanna cry!
This should NOT be happening.
It doesn’t make sense, but here we are.
This is not good news, but if I’m being totally honest, it isn’t news to me.
On the whole, we’re a financial mess, too embarrassed to acknowledge it, unless it’s an anonymous survey.
Way too many of us, even with decent jobs and solid incomes, are financially insecure.
The reasons are plenty, and some are political, so I’ll spare you the rant (as much as I love talking politics!)
The more important conversation is about what to do now.
I can’t believe I’m about to quote Dr. Phil right now, but he kinda says it best: “you can’t change what you don’t acknowledge.”
Sidebar confession: I recently went to a taping of the Dr. Phil show. I was doing a friend a favor. Really. But it was fun! And I guess we got a split second of screen time. OK – I’ve acknowledged it. Can we never speak of this again?! Thanks.
So we start by telling the truth. Once enough of us acknowledge it to ourselves and to each other, we’ll be brave enough to ask for help.
Then The survey doesn’t give us any fixes to this problem, but it implies that financial knowledge and emergency savings are major part of the answer.
It’s all about taking care of your money daily, saving monthly, and budgeting annually.
Of course, that’s what we’re all about.
And very, very soon we’ll unveil our entirely revamped program – it’s the same curriculum but at a slower pace, with more guidance and one-on-one attention.
I’m busting at the seams I’m so excited about this!
I think you’re gonna love it.
So watch your inbox. You do NOT want to miss this.
In the meantime, I’m really curious what you think of the survey. Will you share your thoughts in the comments? And if you’re up for it, share what you’re ready to acknowledge and fix.
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