As the state of Florida works its way through the first week of having its economy up and running again, many Floridians are still worried about the impact that COVID-19 will have not only on their health but also on their financial security as well. This fear has cause the Florida leadership to respond with an initiative.
In a new survey from MoneyWise Florida, over two-thirds of Floridians are worried about the impact that the current pandemic will have on their family’s financial security, and Florida’s CFO Jimmy Patronis is leading a diverse coalition in launching MoneyWise Florida, which is a statewide financial education initiative meant to help protect the fiscal lives of Floridians.
In a statement, Patronis explained the goal of MoneyWise Florida, detailing that “financial literacy is key to a strong financial future.” He added that “financial literacy is vital to ensuring Floridians are financially successful, and it is important that we are providing the tools necessary to ensure for a strong financial future.” As a result, “as Floridians continue to face the impacts of COVID-19, it is more important than ever to take advantage of these resources and educate yourself and family on how to manage finances.”
The initiative has received sponsorship from Suncoast Credit Union as well.
Kevin D. Johnson, the President and CEO of Suncoast Credit Union, expressed that “many people are understandably worried about their families’ future because they’re struggling so hard just to make ends meet,” noting that the “goal is to help Floridians with directions and answers or suggestions about their toughest problems so they can relieve some of the stress related to this difficult and prolonged period.”
In the poll, 77% of those surveyed said that the current pandemic has created “more” financial stress on their household, including 43% that say it has caused “significantly more” financial stress.