Our mission: to be a steward of economic and social sustainability in the communities we serve.
Congratulations! After all the classes, exams, late nights, early mornings and interviews (so many interviews), you actually get to start the career you’ve spent the majority of your life working towards. In addition to the millions of things you need to keep track of at your first real job, you also need to start thinking about putting your financial house in order. You might be thinking, "That sounds good, I want to do that—I like the idea of order in my finances. But what does that really even mean?"
The CFP (Certified Financial Planners) Board conducted a national survey about Americans’ feelings about personal savings. The study essentially assigns people to a class of savers based on how you look at and approach saving.
Are American families becoming more financially resilient? Hardly. A new report from Pew Charitable Trusts found what many economists already know: many American families struggle to make ends meet when facing a financial shock. “It does not come as a surprise,” George Washington University economist Annamaria Lusardi said of the study, released earlier this month. Last year, the Federal Reserve reported that 46 percent of Americans would not be able to cover a $400 emergency expense or that they’d have to sell something or borrow money to do so. The Fed’s report in 2015 found that 47 percent would have a hard time coming up with such an amount.
Did you know that 47% of Americans cannot cover an emergency expense costing $400 or more? SAC Foundation understands this dire need and has a wonderful financial education resource to help instill basic money management fundamentals. They really understand the state of the current financial landscape and the power of financial knowledge.
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