{"id":190724,"date":"2021-02-28T07:11:00","date_gmt":"2021-02-28T04:11:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/covid-19-has-put-financially-vulnerable-americans-on-even-shakier-footing\/"},"modified":"2021-02-28T07:11:00","modified_gmt":"2021-02-28T04:11:00","slug":"covid-19-has-put-financially-vulnerable-americans-on-even-shakier-footing","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/covid-19-has-put-financially-vulnerable-americans-on-even-shakier-footing\/","title":{"rendered":"#\n  COVID-19 has put \u2018financially vulnerable\u2019 Americans on even shakier footing"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407ad3d24b3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407ad3d24b3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/covid-19-has-put-financially-vulnerable-americans-on-even-shakier-footing\/#Households_making_less_than_30000_a_year_are_over_twice_as_likely_as_those_making_more_than_60000_to_report_a_decline_in_their_personal_finances\" >Households making less than $30,000 a year are over twice as likely as those making more than $60,000 to report a decline in their personal finances<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/covid-19-has-put-financially-vulnerable-americans-on-even-shakier-footing\/#Meera_Jagannathan\" >Meera Jagannathan<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  COVID-19 has put \u2018financially vulnerable\u2019 Americans on even shakier footing<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Households_making_less_than_30000_a_year_are_over_twice_as_likely_as_those_making_more_than_60000_to_report_a_decline_in_their_personal_finances\"><\/span>\n  Households making less than $30,000 a year are over twice as likely as those making more than $60,000 to report a decline in their personal finances<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000181171\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Millions of \u201cfinancially vulnerable\u201d Americans have grown even more vulnerable during COVID-19, with lower-income households more likely to have experienced declines in their financial well-being, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finhealthnetwork.org\/research\/covid-19-pandemic-millions-struggling\/\" class=\"icon none\">new data released Thursday<\/a>.<\/p>\n<p> A full half of financially vulnerable survey respondents \u2014 translating to about 17.5 million people \u2014 said they had seen their financial situation decline since the start of the pandemic, found the survey released by the Financial Health Network and supported by the Citi<br \/>\n        C,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207741460\/composite\" class=\"negative\">-2.27%<\/bg-quote><br \/>\n       Foundation. That\u2019s compared to 19% of people who are financially coping and 6% who are financially healthy.<\/p>\n<div class=\"paywall\">\n       The organization <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s3.amazonaws.com\/cfsi-innovation-files-2018\/wp-content\/uploads\/2020\/10\/26135655\/2020PulseTrendsReport-Final-1016201.pdf\" class=\"icon none\">scores financial health<\/a> based on eight indicators that fall under the categories of spending, saving, borrowing and planning. \u201cFinancially vulnerable\u201d means someone is struggling with nearly all or all aspects of their finances, while \u201cfinancially coping\u201d means they struggle with some aspects of their financial lives. \u201cFinancially healthy\u201d individuals have healthy outcomes across all eight indicators.<\/p>\n<p>The recent results revealed growing disparities: Households making less than $30,000 a year were over twice as likely as those making more than $60,000 to report a decline in their personal finances during the pandemic, which resulted in millions of lost jobs and entire industries shutting down.<\/p>\n<p>And people who lost their jobs during the pandemic were far more likely than people who didn\u2019t lose jobs to have spent down their savings (59% vs. 23%), carried a credit-card balance (55% vs. 33%), or borrowed money from family or friends (29% vs. 10%).<\/p>\n<p>Meanwhile, many people found it difficult to meet basic health needs, including 10% of respondents who reported a member of their household stopping or scaling back on medication due to the cost, and 14% who said someone in their household went without needed healthcare for the same reason. These figures marked an increase from a previous survey last August.<\/p>\n<p>\u201cForegone medical care, including delayed preventative care, may cause worse health outcomes for many Americans beyond those created directly by COVID-19,\u201d the report\u2019s authors wrote.<\/p>\n<p>Black (23%) and Latino (22%) survey respondents were more likely than their white (12%) and Asian-American (15%) counterparts to have had concerns about their food supply during the pandemic. They were also more likely to have gone to a food bank, worry about being evicted within the next three months, and express concerns about affording rent or their mortgage.<\/p>\n<p>The nationally representative survey of more than 4,400 people from Jan. 11 to Jan. 18 was fielded to participants in the University of Southern California\u2019s ongoing Understanding America Study.\u00a0<\/p>\n<p>These results underscore \u201cthe financial cliff facing at-risk households,\u201d Financial Health Network president and CEO Jennifer Tescher said in a statement. \u201cWithout additional stimulus and relief measures, inequality will only continue, especially for lower-income Americans and people of color,\u201d she said.\u00a0\u00a0<\/p>\n<p>President Biden\u2019s $1.9 trillion proposed COVID-19 relief package would include stimulus checks, aid to state and local governments, the extension of pandemic-related unemployment assistance programs, and aid for school reopenings, among numerous other provisions. The House of Representatives was expected to vote on the bill on Friday.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Meera Jagannathan\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Meera_Jagannathan\"><\/span>Meera Jagannathan<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D2C3B3FC5118%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# COVID-19 has put \u2018financially vulnerable\u2019 Americans on even shakier footing &#8221; Households making less than $30,000 a year are over twice as likely as those making more than $60,000 to report a decline in their personal finances Millions of \u201cfinancially vulnerable\u201d Americans have grown even more vulnerable during COVID-19, with lower-income households more likely&#8230;<\/p>\n","protected":false},"author":1,"featured_media":190725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-190724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/190724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=190724"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/190724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/190725"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=190724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=190724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=190724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}