What Virtual Learning Means for SaverLife Members
As the school year starts, and most major school districts are returning remotely, we wanted to understand how our members would be impacted financially.
“[S]ince the virus has started my husband and myself both are essential workers and so us helping her with school work came hard even harder cuz she has learning support classes and we don’t know how to help her needs in that way.” Samantha V.
“We are not sending our two boys back this fall. We are lucky that our district is offering remote options and my spouse and I work opposite shifts so we can make that work. I feel for parents who have more complicated factors to consider.” –Adrienne L.
Almost half of our members said their income will drop if their kids go back to school virtually this fall. For members who don’t have the ability to work from home, taking a pay cut would impact their already increasing costs.
“I need to work from home too. My bills and debts are becoming frustrated every day because I don’t have a job to earn extra money and also to do some savings on the side. I will look for a job to work at home. Any suggestions for working at home to earn extra money?” –April J.
More than half of our members said that their #1 expense would be food if their kids return to school remotely. Here are just a few resources that might be helpful:
- Full Cart is a non-profit that offers free grocery delivery nationwide
- Feeding America connects you with a nearby food bank
- AuntBertha.com offers reduced cost services like medical care, housing, and more
“I wonder what they are going to do for all the remote learners this year, because alot of kids wont be at school to receive the free breakfast and lunches.” – Ashlynn K.
Tim Lucas is SaverLife’s Director of Research. He is responsible for measuring the impact of SaverLife; collaborating with the financial health community to test new ways to encourage savings; and delivering insights that advance knowledge around financial health.