Throughout this extended and unprecedented troublesome time in our lives, one of many hardest realities concerning the COVID-19 pandemic is its affect on the fiscal well being of so many households, simply because it has represented a risk to bodily well being.
Even in good occasions, hundreds of thousands of Floridians cope with monetary pressures, together with mortgage or lease funds, sustaining dependable transportation, meals prices, accessing reasonably priced well being care, training, getting older family members, and saving for retirement. COVID-19 has created extra fear for a lot of Floridians, as proven in a brand new survey commissioned by a coalition of monetary, insurance coverage, and customers teams working to assist Floridians by this troublesome time.
To supply assist and helpful data, a public/non-public partnership, underwritten by Suncoast Credit score Union, has been created. MoneyWise Florida is headed by Florida’s elected Chief Monetary Officer Jimmy Patronis, and the marketing campaign has created a information you need to use web site – Moneywiseflorida.com – with details, assets, and useful hyperlinks that handle the wide selection of client issues.
As well as, the marketing campaign will share digital messages, informational movies and ongoing surveys to proceed measuring the extent of concern that Floridians are experiencing.
Becoming a member of CFO Patronis and Suncoast on this effort, different key companions in MoneyWise Florida embrace the Florida Division of Monetary Providers, the Florida Insurance coverage Council, the Florida Institute of CPAs, the Florida Prosperity Partnership, the Florida Alliance for Shoppers & Taxpayers, and the Florida Bankers Affiliation.
The survey performed for MoneyWise confirmed that 84% of Floridians are fearful about their family’s monetary well being, up from 69% only a few months earlier than the pandemic. Complicating this powerful time is the truth that many individuals don’t have sufficient financial savings to climate these varieties of monetary storms. The survey revealed that 70% of Floridians couldn’t make ends meet for quite a lot of months on financial savings alone. This quantity soars to 88% for these youthful than 35, and 89% for minorities.
There are different troubling statistics, out there on the web site, that depict a necessity for dependable assets and sources of assist – and MoneyWise Florida goals to assist meet that want.
Group help and training are a part of our DNA at Suncoast and that’s why we’ve invested on this necessary initiative. Few have been ready for the affect this pandemic has had on their household funds. As we work each day to assist our members and staff, we’re additionally dedicated, with CFO Patronis and the marketing campaign’s companions, to assist all Floridians get by this troubling time and plan for a brighter future.
Kevin D. Johnson is president and CEO of Suncoast Credit score Union.