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Floridians Concerned About Cash
11/18/09 - 02:57 PM
Associated Press
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click for larger image Tallahassee, Fla:

Floridians are concerned about their cash and are not optimistic that their finances will be any better a year from now.
   
That’s according to a new Mason-Dixon poll, which shows 83 percent of Floridians are worried about their personal finances. More than 40 percent don’t expect the situation to improve in 2010 and one quarter say their home is worth less than their mortgage.
 
Now bankers, insurance companies and consumer groups say they want to help. They are launching an effort called “Money Wise Florida,” which offers advice on limiting debt, buying and selling a home or planning for retirement.

Florida’s Chief Financial Office Alex Sink is applauding the program, saying families can find useful information to help them solidify their finances.
   
“Floridians everywhere are a little unsure about their family’s future. These numbers really come as no surprise. Florida’s families are struggling right now and they need help to try to bring their budget in for a landing every month.”
   
“With all the Ponzi schemes that we have experienced in the past year, both as a nation and here in our state, I think it’s more critical than ever for us as consumers to ask ourselves, is it too good to be true! And you know what, we found out through these Ponzi schemes it is.”
   
Florida Bankers Association President Alex Sanchez responds to the question of whether banks share some of the responsibility for the economic downturn by foreclosing on so many homeowners. He blames non-FDIC banks for causing that problem.
   
“I will tell you that 60 percent of the lending market in the United States and in Florida was controlled by the non-FDIC banks and I would urge all Floridians to go to an FDIC bank because a banker wants to make sure that they finance a home for you to live in but most importantly for a home you can afford to stay in.”
   
The poll also shows 73 percent of Floridians know someone who has lost a job in the past year. More than one million people are currently out of work in the state. That has sent Florida’s unemployment rate to a 30-year high of 11 percent.

Other findings include: one-third of Floridians have more debt than savings and 26 percent have more than $20,000 of credit card debt.

You can find financial tips at www.MoneyWiseFlorida.com. The effort will also produce a 30-minute TV program on financial issues next year.

User Comments

Expect worse if the public option doesn’t pass to put needed competetion on our outrageous Blue Cross Premiums to lower them right away as the CBO has projected a Blue Cross Family Plan will cost employers and families $25,000 to $30,000 a year within 10 years at todays rates.
This means virtually no employer will even offer health care to anyone as it’s too expensive. Starting teachers only make $32,000 a year. Do you think the school district could pay an additional $25,000 per employee?
We need to stop the Blue Cross rip-off now and we need a free choice public option to compete with these greedy rip-off companies. They are bankrupting companies,governments, and individuals. Over 50% of all bankruptcies were for medical and over 80% of those who filed, HAD health insurance! The system is a rip-off.
Public option with free choice, NOW!

Posted by retired one  on  11/18  at  07:34 PM
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