Women Living on the Financial Edge
Award-winning Wealth Manager Judith McGee shared tips for keeping your financial boat afloat when you're living on the edge.
Surveys show that many people today are living paycheck to paycheck, and most are just one unfortunate incident away from poverty. It’s becoming such a pervasive socioeconomic problem Maria Shiver is hoping to raise public awareness with an HBO documentary, “Paycheck to Paycheck.” A Town Hall-style meeting with Oprah followed soon after the broadcast of this television special.
What causes poverty?
According to Allen Hunt, Executive Director of William Temple House, good hardworking people can fall into poverty, become homeless and hopeless because life happens to them; a job loss, illness, death in the family, etc.
These people need a helping hand—at least for the first few steps so they can climb the rest of the way themselves. The first basic requirement is money for rent and utilities, emergency food and clothing, childcare, or car repair. Sometimes the greatest need is for someone who’ll just understand, listen, and offer guidance and resources. Counseling is often the greatest gift that restores hope.
While no single solution will fit all situations, I believe there are ways in which people can rebound from the precarious edge of poverty. If someone came to me seeking counsel, I’d begin by asking questions that might shed light into their thought process and their own concepts about the situation. I’d also try to understand their family dynamics and cultural morays, as these could affect their support systems.
Multiply your opportunities
Well, guess what. The natural law of things is NOT division. It’s multiplication! The first thing I would do is guide them toward changing their thought process. New creative ideas are continually presenting themselves to those who are open and willing to hear. It helps to turn off the TV, put those digital devices down for a couple of hours each day, and clear the mind.
Education and Free Support Sources
For one of Oregon’s most beneficial resources, go to 211info.org. You’ll find plenty of free information with 3,000 agencies providing over 50,000 programs to people throughout the state.
So, get ready! It’s time to start multiplying your opportunities!