Do you think it’s important to look out for one another? Do you like to get involved in your community? And how important is that to your well-being?
“You Get What You Give: The MassMutual 2018 Financial Wellness and Community Involvement Study” is a study conducted by PSB online Sept. 7-28, 2017 using a nationally representative sample of 10,000 U.S. adults ages 18 and above which looks into the intersection of community and financial well-being. In this context, most Americans don’t see a direct link between community involvement and their financial well-being, though 7 in 10 says community involvement is important to their well-being. The interesting find here is that Americans who are involved in more types of communities are less anxious about their financial well- being than those who are less involved. So what does that mean exactly?
Nearly all Americans are involved in some type of community activity and those who do are happier with their lives. Barriers to community involvement include money and time, with “differences in lifestyle” and “feeling like I fit it” following right after. Furthermore, 9 every 10 Americans also believes that it’s important that companies are involved in the community they operate expecting them to donate money, resources, and participate at a local level. On the other hand, 4 out of every 10 Americans feels anxious about current and future financial well-being, and those who are happy with their current financial situation are overall happier with their lives. Finally, over 48% of Americans agree that being involved in communities improves their finances and 60% of those that put a premium on community involvement are confident in their financial future.
Community involvement is then a multi-faceted benefit, advancing both community and personal well-being. Not sure how you can get more involved in your community? Here are three tips on how to get started;
- Reflect on what you’re passionate about and what are your community needs;
- Research organizations, initiatives, or projects in your community that are in line with your goals; and
- Apply yourself–your skills, abilities, knowledge–with those organizations while simultaneously advancing your aspirations.
What are some some trends you have noticed in your own country and community? How do attitudes towards financial well-being and community involvement in your country differ from those here in the U.S.? And thinking back of your own personal experiences in community involvement, have you noticed a financial well-being and community involvement nexus? Would love to hear your thoughts and comments below!
Get the details of the study here; https://www.massmutual.com/-/media/Files/RESEARCH%20REPORT%20You%20Get%20What%20You%20Give.pdf