(Wealth in Wellness) In a report released in May, the Federal Reserve surveyed 5,000 American’s and found that 46% cannot afford an unexpected $400 expense.
Forty-six percent of adults say they either could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money.
What’s so disturbing is that this is such a large percentage of the population, and almost any expense can add up to $400 real quick: Health and vehicle insurance deductibles, vehicle repair, emergency home repair, loss of job.
Our experience, of working with families, is that most are living paycheck to paycheck. On the outside, they are living the American Dream. A beautiful home in a great school district, two cars or SUV’s in the driveway. But when we dig deep we find that they are one job loss away from disaster.
And this puts not only a financial stress on the family, but an emotional stress as well. Kids know when their parents are fighting about money, and it increases their emotional stress.
We’ve found that adding $500 residual income can be a life changer. It’s enough to give them breathing room and have money to put away for an emergency. and save for long deserved vacation.
The great thing about residual income, is that it keeps coming in every month, whether you work or not.
Our passion is to work with families (and singles too!) and show them how they can easily add at least $500 in additional residual income every month.
If this story hits home, let us help you, it’s what we love to do.