Families struggling with finances: a look into this year’s unmet needs

Across the U.S., people agree that 2023 has been rough financially. Economists debate the likelihood of a recession, and families struggle with the rising grocery costs or the impact of inflation rates on their ability to make ends meet. These trends are never more prevalent than as we approach the holidays, not just because of the added financial burdens associated with the holiday season, but also because of the end-of-the-year statistics that can paint the situation in a clearer light.

Dr. Alan Green, department chair and professor of economics at Stetson University, says that by-and-large, this year’s numbers look pretty good. Inflation rates have dropped from 9.1% as of June 2022 to 3.7% as of September. And, given that inflation has both leveled out and gone down, the threat of a recession has largely passed.

“It’s a situation where economists are like, ‘Yeah, it’s [inflation] definitely stabilized. We’re not too worried now.’ And then you talk to people, and they’re like, ‘Things are still expensive.’ There’s definitely some disconnect,” Green said.

While inflation has gone down from its greatest peak in 2022, it’s still higher than pre-pandemic times when it sat at approximately 1.4%. Simultaneously, Green said, as things continue to be more expensive than they were just a couple of years ago, minimum wages and average salaries are taking too long to catch up.

“Prices haven’t gone down, it’s just the rate of growth is slower. So, things are still more expensive. And then people’s wages are just catching up, which doesn’t help,” Green said.

He went on to say that other statistics are more concerning than inflation rates to him at the moment, like average life expectancy.

BY THE NUMBERS
300,000
The number of meals provided every day by Second Harvest Food Bank in 2023. This figure matches the amount of meals the food bank provided during the height of the COVID-19 pandemic.
1 in 8
The number of people experiencing food insecurity in the U.S., according to data from the United States Department of Agriculture.
70,350
The number of people experiencing food insecurity in Volusia County, as reported by Second Harvest Food Bank. This figure equates to a little more than one in eight people, slightly higher than the approximated national average.
35
The number of feeding partners Second Harvest Food Bank utilizes in Volusia County to get food where it’s needed most.
100,000-150,000
The estimated number of meals distributed by Second Harvest alone to Volusia County residents.

For the first time in over two decades, the U.S. life expectancy has fallen from 78.8 years as of 2019 to a mere 76.4 years as of 2023. Factors include the global COVID-19 pandemic, political and social stressors, and declining average quality of life.

The increase in financial insecurity since the pandemic shows that the lived experience of the average American is different than what the economic numbers might suggest.

Second Harvest Food Bank, which has locations all across Central Florida, works to ensure that communities have access to the food they need. They can provide four meals for every dollar donated thanks to the work that they do with farms and wholesalers.

Daniel Samuels, director of philanthropy at Second Harvest, knows firsthand what the communities’ need looks like year-to-year, and he says that it’s not getting better, but worse.

“The need this year is actually greater than it was last year… The inflation rate, the rate that it goes up every year has leveled off, but all of the growth that happened when inflation rates were so high have not gone back down,” Samuels said. “Prices are still elevated from what they were before.”

Samuels believes that providing meals for those who need them is the least that the comfortable members of the community could do, but that the work shouldn’t stop there. Legislation, health care, fair wages, affordable housing and other factors also need to be addressed to prevent food insecurity altogether, he said.

“It is important to remember that food insecurity is not a stand-alone issue, but a function of poverty and economic disparity overall,” professor of sustainable food systems at Stetson, Dr. Sarah Cramer, said. “Food security is determined by many factors, including income, transportation, housing, family size, physical ability, and much more. So, until we address these larger issues, we cannot fully address the root of the problem.”

In the meantime, for those finding themselves having to choose between a meal or a bill, there are still short-term solutions that can help. For immediate emergency assistance or long-term resources in your area, visit https://www.feedhopenow.org for help.

You can also maximize your SNAP benefits via the Double Access Bucks program at the SNAP tent at Artisan Alley every Friday night. Don’t have SNAP yet but think you might qualify? Contact the Dr. Joyce M. Cusack Center or Rising Against All Odds for help. And if you’re in the fortunate position of not needing this kind of assistance, consider donating to or volunteering for a local food bank or SNAP program.

“As some of us sit down to enjoy our holiday meals with friends and family, I hope we can all channel our gratitude into action,” Cramer said.