Tips on Saving Money When There is Little to None to Save

Updated 1 year ago

According to the recent release of a report from the Corporation For Enterprise Development (CFED), 46% of Maine residents have almost no savings to fall back on if a job loss, medical crisis or other emergency results in the loss of stable income. Renae Muscatell, of Penquis, joined Jim Morris on TV5 News at 5 to share a few tips on how to save money when there is little to no money to save!The Assets and Opportunities Scorecard explores how well residents are faring in the 50 states and the District of Columbia and assesses policies that are helping residents build and protect assets across five issue areas: Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care and Education.Maine ranks highly in measures of business ownership – 5th in microenterprise ownership, 9th in small business ownership and 7th in business creation – but the state performs poorly in measures of job quality. Maine was ranked 48th with the lowest average annual pay 43rd lowest rate of employers offering health insurance. Here is a link to Maine’s profile- http://www.penquis.org/document_upload/state-profile-ME%20%283%29.pdfand here is a link to the report card.re is a link to the full report


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