Financial Health in Uncertain Times: How Penny Forward Can Help

A Message from Penny Forward founder and CEO, Chris Peterson

Hey there, friends. Let’s have a heart-to-heart about the rollercoaster we’re all on right now. Times are tough, and it feels like every day brings a new challenge, especially for our blind and visually impaired community. So, grab a comfy seat, and let’s dive into what’s happening and how we can navigate these choppy waters together.

A Storm of Uncertainty

The current administration has been making waves with policies that seem to target diversity, equity, inclusion, and accessibility. Alarmingly, there have been public attacks on blind people, which is both disheartening and unacceptable. But that’s not all; efforts are underway to dismantle the Consumer Financial Protection Bureau (CFPB), an agency born from the 2008 financial crisis to shield consumers from deceitful financial practices.

As if that weren’t enough, tens of thousands of federal workers have already received pink slips, and yes, this includes blind people. While exact numbers are hard to pin down, it’s clear that these job losses are hitting hard.

Adding fuel to the fire, the House of Representatives is pushing a bill aiming to slash over $2 trillion in spending. A significant chunk of these cuts is directed at Medicaid—a lifeline for many blind people relying on it for essential healthcare services. Reports suggest that Medicaid could face cuts of up to $880 billion over the next decade (businessinsider.com).

Taking Control of Our Financial Future

With all this turmoil, it’s easy to feel overwhelmed. But here’s the silver lining: we have the power to take charge of our financial well-being. Here’s how:

1. Craft a Spending Plan (Yep, a Budget!)Start by jotting down your monthly income and expenses. This snapshot will help you spot areas where you can tighten the belt. Remember, a budget isn’t about restricting yourself; it’s about making your money work smarter for you.
2. Steer Clear of DebtCredit cards can be tempting little devils. But with sky-high interest rates, that new gadget or outfit could end up costing way more than its price tag. Aim to pay off existing debts and think twice before swiping that card for non-essential purchases.
3. Keep the Job Hunt AliveJob searching can be a grind, especially when doors seem to be closing. But don’t lose heart. Opportunities are out there, and securing employment can offer more stability and income than relying solely on government benefits. Plus, working can provide a sense of purpose and community connection.

We’re Here to Help: Penny Forward

Feeling a bit lost on where to start? That’s where we come in. At Penny Forward, a nonprofit founded and led by blind people, we’re dedicated to empowering our community to achieve financial independence. Here’s what we offer:

• Online Courses: Dive into topics like budgeting, smart credit use, strategic job hunting, and more.
• Weekly Workshops and One-on-One Financial Counseling: Got specific questions or unique financial challenges? Our workshops and personalized counseling sessions are here to guide you.
• Volunteer Opportunities: Already a financial whiz? Join us in our mission. The demand for our services is growing, and with your help, we can reach and support more people.

Together, We Rise

It’s a challenging time, no doubt. But by banding together, sharing resources, and supporting one another, we can weather this storm. Let’s turn these challenges into opportunities to strengthen our community and uplift each other.

Remember, at Penny Forward, we’re not just about finances; we’re about fostering a community where everyone thrives. Reach out, get involved, and let’s make a difference together.

Stay strong, stay informed, and let’s keep moving forward.

Regards,

Chris Peterson, AFC®
Founder and CEO, Penny Forward