New Research Links Financial Well-being with Community Involvement
This new body of research – You Get What You Give: The
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Tough times: Regardless, people find ways to be more secure, happier and fulfilled
Despite continuing economic improvement, the study highlights how Americans have not put financial uncertainty and volatility behind them. In fact, approximately four in 10 Americans feel anxious about their current and future financial security and think about their financial well-being daily. Yet, indicative of Americans' community values, more than half (53 percent) report that they have supported someone in their community in a time of financial stress, and 25 percent have been supported by others in their community during a time of need.
The results come as no surprise to
Community: More than a place – and more than an online connection
Americans clearly choose to make time for others. Nearly all Americans (95 percent) reported that they are involved in at least one community. Most are involved in a community with their family (86 percent), friend group (65 percent) or neighborhood (50 percent). Those who place a premium on community involvement have unexpected benefits, with approximately six in 10 being either comfortable or confident in their current and future financial well-being.
Interestingly, Americans do not share the same definition of community. Respondents defined community in multiple ways, including geography (81 percent), values (45 percent), culture (40 percent) and lifestyle (36 percent).
Community is also no longer just a physical thing; Americans are connecting with communities both online and in-person. Most surprising in today's digital world, regardless of age, Americans interact with their communities in-person, with the exception of political and interest-related communities.
No matter how they define community or participate in it, Americans agree that involvement in a community impacts multiple aspects of their lives. A majority report that community participation improves their social and family lives (88 percent and 82 percent, respectively).
Visit MassMutual.com/You-Get-What-You-Give for tangible tips for those interested in becoming more involved in their community, as well as educational materials and tools to explore ways to build financial security, including an option to connect with a financial advisor.
"It is remarkably gratifying to see research support what intuition has long told us, that those who are more confident in their financial future are also more likely to say that community involvement is important," Duquette added.
Methodology
PSB conducted the research online from
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