Part 4/8:
There are three primary drivers behind financial distress:
Loss of Income: Job losses, sector layoffs, and sudden disabilities can severely affect an individual’s income and financial stability. Anecdotes highlight how some individuals lost jobs due to the decline of entire industries.
Unexpected and Unmanageable Expenses: Medical emergencies are a leading cause of unplanned financial strain. Even with insurance, substantial medical costs can arise, leading some individuals to financial ruin.