Important Financial Issues Facing Lower and Middle Income Families

Join our #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat on every Wednesday 3 p.m ET. In this chat, we discussed the financial hardships that lower and middle income communities face.
The panel included: Andrew Wallace: a Financial WellBeing Coach at OperationHOPE; Dr. Barbara O’Neill: CFP, Distinguished Professor, and Specialist in Financial Resource Management at RCE; Shannon McNay: Writer for Student Loan HeroRod Griffin: Director of Public Education at Experian, and Christina Roman: Social Media Specialist at Experian.

We’re also featuring financial tips all week on Snapchat.

Questions We Discussed:

  • Q1: How do you define a middle and lower income family?
  • Q2: What are key financial considerations for low and middle income families?
  • Q3: What is generational poverty and how can that cycle be broken?
  • Q4: How does a lack of access to financial services impact someone living at or below poverty line?
  • Q5: What are some financial options available to those who are/were unemployed or have poor credit?
  • Q6: How can families break the cycle of living paycheck to paycheck?
  • Q7: How can middle and lower income families prioritize saving for an emergency fund?
  • Q8: How can a family struggling with stagnant wages bring in more income?
  • Q9: How can financial literacy impact these families and communities?
  • Q10: What financial literacy resources would you recommend for families struggling to get ahead or make ends meet?

If you’ve never heard about #CreditChat, here is a brief overview:

Relevant chats on YouTube: