August 20, 2020
Volume 6, Number 34

From the Editor's Desk
by Gary Foreman

Hello to all my Frugal Friends!


We all know that this virus has affected many, many people's finances in a very negative way. Government money helps, but it cannot completely replace a full-time income. This week I received the results of a survey from Flexjobs. We've worked with them and recommended them for years. Here are some of the survey results.


"According to a survey of more than 1,100 U.S.-based respondents, more than half (53%) of people are currently earning half or less of their pre-pandemic income.  Approximately one-third (31%) have lost their entire income since the pandemic started. Almost half (46%) say their emergency savings wouldn't last them more than 3 months and roughly a quarter (24%) said their savings would not even last one month. Overall, 62% do not have enough emergency savings to last six months. 44% of respondents reported that they are currently struggling financially, whereas only 24% reported the same thing before the pandemic. Just 30% agreed that they had a good plan in place in case they got sick or needed care in the short-term, and even fewer strongly agreed (12%)."


That's a lot of hurting people that need help!


We also know that financially some people have only been inconvenienced by the virus. Their jobs and income have not been affected. I think that those of us who fit that category need to walk with those who are struggling financially.


We can do that in a variety of ways. Buy some groceries for a neighbor. Double up your dinner recipe and deliver it to a friend. If you don't want to embarrass them, explain that you mistakenly overcooked and they'd be helping you out. Put yourselves in their place and I'm sure that you'll come up with some ideas.


Speaking of not making someone feel bad about a financial struggle, What to Say to Someone Who Is Having Money Problems addresses that issue.


What if you've been affected financially but still want to help? You'll want to read 12 Ways to Help Others Without Spending Money.


You can also suggest that they visit or or our Facebook Page.


I started The Dollar Stretcher 25 years ago to help people who were struggling financially. Sure, we have good advice for all times, but we were designed for times like these when stretching a dollar is important.


Let's get through this together. Both healthwise and financially.


Keep on Stretching those Dollars!

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The Dollar Stretcher and Dollar Stretcher, Inc. does not assume responsibility for advice given.  All advice should be weighed against your own abilities and circumstances and applied accordingly.  It is up to the reader to determine if advice is safe and suitable for his/her own situation.

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