Unless you’ve been living under a rock, which some people have been for some reason. There have been numerous news reports stating that your zip code can determine your “Health”.
Well part 2 of the story is your zip code can also determine you “Wealth”! I’ve talked about this for years and some people have challenged me on this issue but I stand my ground and defend my statement.
Your zip code can determine your wealth and now I have more information to prove it. Dr. Henry Lewis Gates, remember him? He was the African American Professor at Harvard that was arrested for trying to break into his own house. Of course he wasn’t but because he was black the police officer couldn’t bring himself to believe a black man could live in that upper class neighborhood.
We’ll he just released some research stating exactly what I said about zip codes and wealth.
Here are the facts, if you live in a targeted zip code…(targeted meaning “Poor income”)
- You’ll pay more for health insurance.
- You’ll pay more for auto insurance.
- You’ll pay more for life insurance.
- You’ll pay higher interest rates for your mortgage.
- You’ll lose or have a flat value of your home.
- You’ll be exposed to higher crime.
- Your children will be exposed to lower quality schools.
- You and your children will be exposed constantly to a lesser positive outlook. Negative environment.
- Feeling of under valued life.
- Social and financial depression.
- Higher rental rates.
- Lose of your money by renting rather than owning.
I could go on and on but I’d rather talk about the solutions. Everything can be fixed by uplifting our communities and repairing the financial side of the equation. Money isn’t everything but its the only thing you can pay your bills with.
Most of the issue’s we face in life can be solved or minimized if we had financial stability. I think most of the issue’s might even be avoided if we have a strong financial foundation.
Think about it…how many times has something came up and if you had the money you could have made it go away? Again I’m not saying money is everything and that we should be able to buy our way out of problems we make for ourselves. But it does make it a little bit easier to manage everything if you have the money to get through it.
Step 1 to making sure your zip code doesn’t hold you back is to do the things that people expect people to do in those zip codes. One of the biggest equalizers is to have a good or an excellent credit score. Yes there are companies that will still base their pricing on your zip code but having a good or excellent credit score will allow you to shop around.
Remember the #1 goal of companies is to make money and they want good customers that will continue to pay. If you have good credit you’ll be able to find a company that will give you excellent pricing due to your credit worthiness.
From my personal experience when you get your financial house in order everything else seems to fall into place. I invite you to leave your questions here or on facebook.