#United States #Washington #Financial Wellness #National Financial Educators Council #Public Health Emergency

National Financial Educators Council Takes Action Against Financial Instability

The National Financial Educators Council (NFEC) has launched a new initiative aimed at recognizing financial instability as a Public Health Emergency across the U.S. This effort underscores the connection between financial conditions and the health issues that affect many Americans. Vince Shorb, CEO of NFEC, emphasized the need for a comprehensive approach to financial wellness, stating, _"Financial instability undermines the health and well-being of Americans across this country."_

Understanding the Link Between Money and Health

According to the U.S. Department of Health and Human Services, the Center for Disease Control and Prevention (CDC) identifies several Social Determinants of Health (SDOH) that are heavily influenced by financial factors. These include:

1. Economic Stability: Factors such as poverty and housing instability lead to negative health outcomes.
2. Educational Access and Quality: Lower graduation rates correlate with the risk of chronic illnesses, particularly among low-income students.
3. Healthcare Access and Quality: With nearly 10% of Americans uninsured, health issues can worsen without timely medical care.
4. Neighborhood and Built Environment: Low-income areas are often rife with hazards, contributing to both physical and mental health challenges.
5. Social and Community Context: Financial strains and discrimination can exacerbate existing health problems.

Vince Shorb asserts that _“Poverty and financial insecurity are not just economic challenges—they are foundational drivers of poor health.”_ He believes integrating financial wellness into public health strategies could mitigate these issues significantly.

A Call to Action

To facilitate this critical change, the NFEC proposes several initiatives aimed at elevating financial wellness to the forefront of public health campaigns:

• - Accelerating Prevention: Introduce personal finance education at elementary, high school, and college levels, akin to traditional health education programs.
• - Scaling Support Services: Deploy services such as coaching, counseling, and career readiness programs to help those already affected by financial insecurity.
• - Enabling Quick Response: By reallocating funding and expanding partnerships, resources can be mobilized similarly to those during health crises like the pandemic.

NFEC is actively advocating for these changes through a campaign called United for Action Week, set to launch in September. This initiative will connect with local, state, and national governments to push for coordinated advocacy for financial education and support.

Getting Involved

The NFEC is calling upon public health leaders, educators, and policymakers to align with their goals. By formally declaring financial instability a Public Health Emergency, they hope to collaborate on relevant policy implementations that elevate financial wellness into health equity discussions. They emphasize that _“We have the framework. We have models. Now we need the urgency.”_

In conclusion, the National Financial Educators Council emphasizes the necessity of financial wellness to achieve a healthier, more equitable society. By addressing economic challenges as public health issues, the NFEC believes we can significantly improve the quality of life for millions of Americans.

The NFEC is recognized as an Accredited Provider through IACET and operates as a Certified B Corporation™, focused on empowering advocates in financial wellness with training and resources. They aim to mobilize these advocates worldwide to foster greater financial health in communities everywhere.