How Long Can People Cover Their Needs Without Income?
Cool Infographics: Charts and graphs can communicate data; infographics turn data into information.
How Long Can People Cover Their Needs Without Income? infographic by Visual Capitalist.
How Long Can People Cover Their Needs Without Income?
With nearly half of people under 34 worldwide unable to cover their needs for a month or less without income, it is no surprise that financial resiliency is a hot topic.
So, for this graphic, Visual Capitalist has partnered with Lloyd’s Register Foundation to explore economic resilience further and determine how long the average person can afford to cover their needs without income.
World Risk Poll 2024 Report: Economic Resilience
Lloyd’s Register Foundation produces the World Risk Poll every two years in partnership with Gallup, and the World Risk Poll 2024 report explores the everyday risks of 147,000 people from 142 nations.
They asked respondents how long they could afford to cover basic needs, such as food, transport, and shelter, if they lost all income.
The results reveal a distinct trend across all age groups, with respondents typically falling into two categories: those with one month or less of financial runway, and those with more than four months. Relatively fewer respondents reported being able to survive two to three months.
I think this is a really interesting adaptation of a Sankey/Alluvial diagram. I’d like to see summaries of each timeframe to support their discussion around trends.
Found on Visual Capitalist.
Source: https://coolinfographics.com/blog/2024/7/22/how-long-can-people-cover-their-needs-without-income
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