INCOME
HELPING FAMILIES BECOME FINANCIALLY STABLE AND INDEPENDENT
| The community and family issues that stem from the economic and financial pressures facing individuals and their families are growing increasingly complex and more difficult to address. Wages have not kept pace with the rising cost of housing, healthcare and education, and skill levels have not stayed in alignment with changing needs. As a result, more than 12% of the population has an income below the federal poverty level, in spite of the fact that many are employed, some with two or more jobs. |
the Facts
- 3.5 million full-time workers earned less than poverty level wages.
- 1 in 3 households use credit cards to cover basic living expenses - including rent, mortgage payments, groceries, utilities and insurance.
- The personal savings rate in 2006 (as a percentage of disposable income) was a negative 1%, the lowest in 73 years.
- 10-23% of lower-income households do not have a bank account and are without access to mainstream financial institutions and services.
- 1/3 of households have zero or negative net financial assets, and half of households have less than $1,000 in net financial assets.
- 1 in 3 households with income less than $35,000 run out of food before they have money to buy more.
- On any given day, there are 800,000 Americans, including 200,000 children, who are homeless.
Your investment provides opportunities such as:
- Financial literacy programs that teach families how to budget, build savings and manage money.
- Training to help people find and keep jobs that pay a living wage.
- Increasing affordable housing for seniors and families.
- Increase food distribution to families living at or below the federal poverty level.
- Help families in breaking the cycle of homelessness by addressing the causes of the problem.