We’ve all heard the term “saving for a rainy day”, but what happens when that difficult day arrives? We all hope it never does, but an unexpected layoff, disability or a death in the family can create a loss of household income and wipe out a rainy day fund. If the family has been living paycheck-to-paycheck, bills can start to accumulate immediately even before the family member can return to work or find a new job, draining existing savings.
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In an effort to reach a greater number of booksellers struggling with financial difficulties, the Binc Foundation has expanded their Financial Assistance Program to include two new categories. Now, booksellers in need of help to stave off eviction or prevent homelessness may be considered for a financial assistance grant. In addition, a bookseller struggling with the funeral expenses for an immediate family member, may also apply to the Foundation for a grant. In a recent survey booksellers provided input as to what types of assistance would be helpful and these two categories ranked high. With these two new qualifying events, Binc hopes to make a meaningful difference in the lives of an ever increasing number of bookstore employees.