| Improving Financial Stability |
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Our Community Assessments have consistently found that financial instability is the number one cause of many of our community's problems. Indeed, too many Utah families are one paycheck away from financial disaster. About 30% of Utahns report living paycheck to paycheck, while the average monthly credit card balance for households with a balance is more than $9,000. The national savings rate dipped to an all time low of -1% in 2006, and rebounded to .5% for much of 2007. The mean salary for Utahns lags behind the national average - the mean salary for Utahns in 2006 was $35,540 compared to $41,231 nationally. Through a tremendous collaborative effort, we are creating lasting change while finding ways to bring immediate improvement to the financial situation of Utah families. Our innovative strategic initiatives and our community partners educate, encourage and enable families to prepare for financial emergencies and plan for the future. |
