I recently read a survey that said 62 percent of middle-income Americans worry about financial stability every day. This is not good news.
Financial instability is not only bad for the economy, but I have a hunch that lack of money contributes to all sorts of social problems. To investigate my hunch further, I shared this statistic with a friend who works in social services. She sees firsthand how many people lack financial stability. She believes if many families had financial stability, some of the challenges they face could be lessened.
Next, I called a buddy who practices family law. I asked what the common denominator is for his clients whose families are in crisis. His reply: financial instability. He stated money appears to either be the root of the problem or worsens the situation. Finally, I consulted a police official who said he sees a correlation between financial instability and the crime rate.
If 62 percent of LGFCU members worry about financial stability that’s more than 150,000 of you worrying about money every day. If my guess is right, this worry is taking a toll on you, your family, your job and your community. The key question is what are we going to do about it?
LGFCU is driven by our mission to improve the lives of our members. We often focus on the improvement part: getting a new car, buying a first home, saving for retirement, and so on. The other side of the coin is that an unimproved life creates a harmful impact.
Your Credit Union believes the path to financial stability begins with you taking the first step. We offer advice and information on our website as well as a no-cost money management service called Compass that gives you complete control of your finances.
Together we can help you alleviate your worries and overcome your financial challenges.
But it all begins with you.