Weathering the storm — What to do about the financial health impacts of climate change on low income households

Leigh Phillips SaverLife

In 2023, SaverLife, a nonprofit and advocacy organization using technology to improve the financial health of people living with low-to-moderate incomes, released a first of its kind report looking at the intersection of climate change and financial health. that exposes how financial insecurity is shaping the ways people living on low-to-moderate incomes navigate the impacts of climate change. We learned that 60% of SaverLife members say that they’re concerned about severe weather or a disaster where they live, but only 11% of them can currently afford all of the costs associated with these events. While SaverLife members want to prepare for the financial realities that climate change presents, they’re often strapped to do so. “Living with limited income is such a delicate balance,” SaverLife member José explains. “I wish that policymakers would recognize and account for that.”

Track

Deploying Climate Capital

Format

Brief and Bold (1 Speaker, keynote style)

Speakers

  • NameLeigh Phillips
  • TitleCEO of SaverLife | Chair CFPB Consumer Advisory Board
  • OrganizationSaverLife

Description

In 2023, SaverLife, a nonprofit and advocacy organization using technology to improve the financial health of people living with low-to-moderate incomes, released a first of its kind report looking at the intersection of climate change and financial health. that exposes how financial insecurity is shaping the ways people living on low-to-moderate incomes navigate the impacts of climate change. We learned that 60% of SaverLife members say that they’re concerned about severe weather or a disaster where they live, but only 11% of them can currently afford all of the costs associated with these events. While SaverLife members want to prepare for the financial realities that climate change presents, they’re often strapped to do so. “Living with limited income is such a delicate balance,” SaverLife member José explains. “I wish that policymakers would recognize and account for that.”

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