National True Cost of Living Coalition

Among the topline findings from the Urban Institute’s report: - 52 percent of Americans live below the True Cost of Economic Security (TCES) line. - Low resources rather than high costs characterize the places with the highest TCES rates. - 3 out of 5 children live in families with resources falling below the TCES line, as compared with 49 percent of adults ages 18 to 64 and 47 percent of adults ages 65 and older. - The majority of people in single-parent families fall below the TCES line, and half of all people living with two adults (under age 65) and two children, lack the resources to cover their costs. Learn more about how we are measuring what matters: https://lnkd.in/epfAyWQ6

Earlier this year, the National True Cost of Living Coalition conducted a survey in which 65 percent of Americans earning more than 200 percent of the federal poverty level (FPL) indicated they were struggling financially. It showed that two things can be true: Americans can make ends meet, but they are also unable to get ahead and plan for the future.     Because traditional measures like the Official Poverty Measure (OPM) and the Supplemental Poverty Measure (SPM) focus only on acute deprivation, the struggles of many Americans are often unseen by experts and policymakers. This is perhaps most evident in this month’s election results, with most traditional economic metrics pointing to a booming economy. Yet, voters voiced widespread dissatisfaction with their own financial situations and with the broader economy.     We need a clearer picture of how Americans are truly faring. That’s why our Coalition commissioned the Urban Institute to conduct a comprehensive study of what it truly costs to live with financial security in the United States in the twenty-first century. Today, we are thrilled to announce that Urban Institute has completed that report, with a holistic measure that comprehensively accounts for the costs modern American families face alongside the resources available to them.    This new #TrueCostOfEconomicSecurity (TCES) measure will help drive meaningful conversations about what it means to #ThriveNotJustSurvive in today’s economy. It is our hope that this new measure can be a tool for policymakers to craft fact-driven solutions that help American families achieve lasting economic security.    Learn more about how we are measuring what matters: https://lnkd.in/e3epxGau

Despite an improving economy, far too many Americans continue to struggle to plan beyond their next paycheck. To better understand families’ circumstances, their resources, and the costs of fully participating in today’s economy and society, the Urban Institute developed a “true cost of economic security” measure. The measure was designed with accuracy and replicability in mind, using high-quality publicly accessible data collected regularly to capture variations across states and all areas, allowing us to explore differences by age, family structure, and race and ethnicity. This research, commissioned by the National True Cost of Living Coalition, captures a fuller picture of Americans’ economic realities and drives informed conversation about the true cost of economic security in America today. Please join the Urban Institute and the National True Cost of Living Coalition, a partnership between FPWA and Community Service Society of New York, for a discussion on how policymakers and researchers can leverage insights from the 'true cost of economic security' measure to improve American families’ well-being. https://lnkd.in/e4F28SBu

What is #EconomicSecurity, why does it matter, and how should we measure it? Our latest primer: bit.ly/3UtJjiz dives into these key questions and highlights how the National True Cost of Living Coalition is advocating for a new measure that calculates what it truly costs to live with economic security in the United States.

#EconomicSecurity for elderly Americans means being able to comfortably retire without having to worry about re-entering the workforce when faced with unexpected expenses. Even after the recent cost-of-living adjustment — or #COLA — for Social Security recipients, many American retirees are concerned that the increase would not be enough to ensure their financial stability. A national economic security measure would not just benefit young families and those currently in the workforce. It will also help ensure that retired Americans are able to comfortably afford their bills while having enough for a rainy day. https://lnkd.in/d6x9gkdQ

We all deserve to live with #EconomicSecurity—where financial stability isn’t just about getting by but about having the means to #thrive. Economic security in America should mean more than simply covering families’ basic necessities. It should provide the peace of mind that we can save for the future, comfortably handle unexpected expenses, and build a stable life for ourselves and our families. But to achieve that, we first need to #MeasureWhatMatters. We need a national economic security measure that tells

Our economy is evolving, but the tools we use to measure economic security have remained the same. That leaves policymakers without a complete picture of what it truly takes for American households to thrive in the 21st century. We need a national #EconomicSecurity measure that captures the full picture of what it takes to realize economic security in 21st century America — one that shows what it takes for working Americans to plan for the future, weather emergency expenses, and invest in their long-term goals, whether that’s buying their first home or starting a family. It’s time to #MeasureWhatMatters. Join us in this crucial effort and learn more about our work: https://lnkd.in/eDasMv6Z

Our current measures of economic need in the United States focus only on acute deprivation, leaving gaps in our understanding of the true cost of #EconomicSecurity across the country. We need a measure that accounts for the full costs of modern essentials like housing, childcare, transportation, prescriptions and school supplies. And that means looking beyond the most basic of needs to understand what it truly costs to be financially stable in America today. The National True Cost of Living Coalition — a broad-based group of policy, philanthropic, and community leaders — is working to develop a new, national #EconomicSecurity measure designed to inform program and policy decisions related to economic need at all levels of government.