Just as people in the U.S. were making progress during the pandemic they faced incredible financial hurdles that changed the scenery for their lives. In comparison to 2020, this year reflects that 49% of people are satisfied with where they stand in comparison to 2021.
Unemployment is the overriding issue when it comes to financial woes people are experiencing. Why? During the height of the pandemic, some companies operated at 50% capacity meaning employees weren't earning as much income, some companies closed altogether, and other businesses operated at full capacity, albeit from remote locations.
Young adults are experiencing the most challenging financial times because they don't earn as much as middle-aged or seniors. Student loans, limited hours of work, and uncertainty continues to place a lot of pressure to maintain their ability to pay for their apartment and other expenses.
During the Great Depression, more people lost their homes to mortgage foreclosure and were sued by lending institutions for their inability to pay personal loans, student loans, medical expenses, and more. The pandemic continues to take lives, thus the importance for people today is to have healthcare, housing, and pay their debts.
Encourage your family, friends, and colleagues to listen to this episode and go to Apple Podcasts and rate and review this episode and provide a 5-star rating. This episode gets to the heart of the matter when it comes to discovering financial pain points and navigate to overcome any financial deficiencies that exist for you and your family.