1 in 3 Americans say their stimulus checks won’t sustain them for even a month
While millions of Americans are counting the days until their stimulus checks arrive, many fear that the one-time $1,200 payment won’t go very far. Read the Article >>
Half in U.S. Plan to Spend Relief Money on Bills, Essentials
With the first direct payments to U.S. adults from the Coronavirus Aid, Relief, and Economic Security (CARES) Act set to hit bank accounts this week, 35% of U.S. adults intend to use the money primarily to pay bills. Another 16% say they will purchase essential items like food or gas with the money. Twenty-nine percent […]
When are stimulus checks coming? Money set to roll out to Americans next week
“Once again, the greatest burdens will be shouldered by the most vulnerable among us, when instead we should be doing everything to give them a leg up,” Jennifer Tescher, president and CEO of Financial Health Network, a non-profit authority on consumer financial health, said in a note. Read the Article >>
Retirement Readiness: A Generational Perspective
By Steve Arves, Manager, Financial Health Network The economic fallout from the COVID-19 pandemic has taken an exacting toll on many people’s retirement savings. Over the last month, the stock market took its largest dip in years, wiping out trillions of dollars in savings overnight. While it’s too soon to say whether these losses will…
31% Can’t Pay the Rent: ‘It’s Only Going to Get Worse’
As the economic shutdown pares tenants’ incomes, April payments have been reduced, deferred or withheld. Some landlords see their property at risk. Read the Article >>
#FinHealthMatters In the Workplace
There is also an opportunity to advance large employers’ understanding of the financial health challenges of workers, so they can better assess and implement financial health interventions in the workplace.
Covid-19 is a chance for business leaders to rework their pact with society
A message appeared this week on the Notify NYC text feed, New York City’s official source of information about emergency alerts and city services; it was squeezed in between an update on how students can pick up grab-and-go meals at the entrance of their local school and the latest advice on containing the virus: Read the […]
Needy Will Face Hurdles to Getting Coronavirus Stimulus
The Treasury reversed guidance that would have required millions of Social Security recipients to file returns, but many other low-income people will have to submit them. Read the Article >>
COVID-19 Highlights Need For Banking To Focus On Financial Wellness
Now, more than ever, the financial strains of households are becoming political, personal and institutional issues. Even when the coronavirus crisis ends, the financial crisis will remain. We interviewed Jennifer Tescher from the Financial Health Network to get her perspectives on what needs to be done now and in the future. Read the Article on […]
Coronavirus Insights: Cash Flow Crunch, Digital Banks, Smart PR
According to The Financial Health Network, only one-third of Americans went into the COVID-19 crisis financially healthy. Their paper, “A Country Without a Cushion” (PDF), probes six factors producing this situation: insufficient insurance, income loss, inadequate workplace safeguards, constrained household finances, digital divide and disparate impacts.
Checks Won’t Cut It: Getting COVID-19 Relief To The Most Vulnerable
In all likelihood, the federal government will be sending out tens of millions of paper checks in the coming weeks and months to those who qualify for aid under the Coronavirus Aid, Relief, and Economic Security Act. Read the Article >>
Not Working: Coronavirus Exposes a Broken System That Fails Workers
By Beth Brockland Senior Director, Financial Health Network March 26, 2020 Reading about the coronavirus pandemic feels a little bit like watching the world unravel before our very eyes. Every day brings new stock market lows and emergency measures. At the same time, people all over the country are demonstrating remarkable acts of humanity, practicing…