The local publication Catholic St. Louis disclosed that, in the Greater-St.-Louis area, over one-third (37%) of primary-school-aged kids attend Catholic school. This figure, while arguably lower than in years past, is still almost three times (3x) higher than the national average (13%).
The numbers are comparable for high schoolers (31% here, versus 10% nationwide).
This suggests that Catholic St. Louisans value the advantages of the Archdiocesan school system.
However, when push comes to shove in a financial pinch, paying for Catholic education might be relegated to the category of “non-essentials.”
Money Problems Often Come Unexpectedly
Money problems can arise in a variety of contexts and from a number of factors.
Some of these afflict breadwinners.
One class of possibilities has to do with cutbacks, downsizing, layoffs, and other unemployment woes.
Another might stem from the temporary or permanent disability.
Premature and untimely death is a tragedy on many levels — not least from the standpoint of the financial hardships with which survivors are too frequently saddled.
Other difficulties affect family members.
Sometimes, young children are diagnosed with conditions — such as cancer or autism — that require costly interventions and therapies.
Other times, families are faced with the prospect of having to assume caretaker responsibilities for older adults, perhaps suffering from cognitive impairment or physical enfeeblement.
Is Your Family Prepared for a Financial Storm?
We don’t know precisely what the future has in store. We don’t believe in crystal balls or fortune telling.
But it is the better part of wisdom to plan like we’ll live forever, even if — as Catholics — we’re called to live like we’ll die tomorrow.
I recently sat down with the daughter of a 90-year-old man and his 86-year-old wife.
The daughter commented that, many years previously, the man had stated that he had planned to get them to age 90. And when she asked, “What happens after that?” They laughed.
And now, for them, the conversation has turned to talk of nursing homes and Medicaid “spend downs.”
To be sure, not everyone will have to contend with longevity woes.
But, given our longer life expectancies, more and more of us will.
For others, the pressures may be quite different.
But There Are Some Things That You Can Do Now
Here are four quick tips.
(1) Don’t neglect future planning. Don’t be so focused on short-term needs — as pressing as they may be — that you fail to attend to long-term needs.
What would happen to your family if you were disabled or killed right now? What happens when mom or granddad needs actual long-term care?
(2) Budget, save, and live within your means. There are many different schools of thought when it comes to investments and money-handling strategies. But almost all experts will tell you to track your expenses and income, create emergency and retirement funds, and — to add a biblical flourish — to be wise stewards of the resources that God has given to you and to your family. And if authorities with far-flung opinions actually agree on something, perhaps you should listen.
And yet, the devil is in the details.
(3) Review your situation; select a plan of action; and stick to it. Your plan doesn’t have to be perfect. Probably nothing this side of eternity deserves that lofty adjective. But the truth is: Your plan doesn’t have to be perfect, it just has to be better than doing nothing. You can — and should! — always readjust your sails as winds change.
Let us Help
We have expertise assisting St.-Louis-area Catholic families chart their trajectories through the uncertain — and often tumultuous — waters of life.
We can help you go over your situation and provide advice that is in line with our shared Catholic beliefs, goals, and values.
Call today for a no-cost, no-obligation review!
(321)948-0707