67% of parents with young children say virtual learning is a financial strain

A new article at bankrate.com states that 67% of parents with young children say 'virtual or remote learning' for school will negatively impact their finances. 

With a new school year already underway or about to start for most West Tennessee systems, many are offering (or in some cases REQUIRING) virtual or remote learning.
  
Bankrate.com surveyed over 3,000 adults and found that 67% of those with children aged 5 to 10 say their finances will be impacted in the following ways:

• 30% noted additional school expenses,
• 23% said career opportunities will be limited,
• 22% said work hours will have to be cut,
• and 15% said they'd no longer be able to work.
  
  

57% of parents with students aged 11 to 15, and 46% of those with students aged 16 to 18 said they'd also be negatively affected.   Read the article here. 

Until now, families have been relying on government stimulus programs, expanded unemployment benefits, personal savings and credit cards to stay afloat. With those options running out, and the additional burden of parents who are unprepared for at-home schooling, many families are feeling the pressure.

​The handwriting is on the wall, and smart families are pre-planning their next steps, including debt resolution or bankruptcy choices.

If you already feel your financial situation is out of control...contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888. The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today!