I'm pleased to share with you the formation of a new online advocacy organization called Qvisory that is dedicated to helping young adults with their money, work, and health concerns. Qvisory was the brainchild of Andy Stern at the Service Employees' Union, and has been supported by the Rockefeller Foundation. In conjunction with its launch, Qvisory also just released a report, Young People: Living on the Edge. The results show that young people are facing tremendous and growing financial stress. Financial concerns top the list of problems facing young adults today, at 55 percent, an 11-point jump over the past year. In addition, young adults face a growing credit crisis:

• Three out of four young people report having gone deeper in debt over the past year.
• More than half of young adults say they are only paying their minimum monthly amount on their credit card.
• Nearly one in five (19%) report having had their phone, cable, or utilities cut off, and more than one in seven (15%) have faced repossession or had their credit card canceled due to non-payment.
• One in three young people who owe money on a credit card owe more than $10,000 overall.
• 28% of all young adults are carrying medical debt.
• More than half of all young people have gone without health insurance at some point in the past five years - including 75% of those who are now carrying medical debt.

The good news is that Qvisory is here to help. For instance, the organization is now making it easier for young people to purchase health insurance. Check out www.qvisory.org/health to get information to demystify the subject and find coverage options pre-screened by Qvisory.

Article by Alexandra Levit and courtesy of Water Cooler Wisdom blog.