Financial Struggles Stop 40% of Arizona Residents from Pursuing Dream Job

Our survey uncovered that one in three Americans face economic barriers in pursuing their ideal careers, with 33% naming financial constraints as the top obstacle when chasing their dream. For many, the price tag attached to achieving their dream job – whether it’s the cost of education, business startup costs, or unpaid opportunities – is too steep.

But what else is holding Americans back? To answer this question, the team at Voice Nation surveyed Americans to create a dream job report looking at dreams and the obstacles that can get in the way. They found that ffinancial struggles stop 40% of Arizona residents from pursuing their dream job.

Barriers to Achieving Dream Jobs:

1. Financial constraints – 33%
2. Lack of opportunities – 22%
3. Family obligations – 20%
4. Fear of failure or lack of self-confidence – 18%
5. Health issues – 16%

Beyond money troubles, 22% of respondents feel that the lack of opportunities in the job market holds them back, recent headlines found the job market appears weaker than expected. The US created 818,000 fewer jobs than first calculated in the 12 months leading up to the end of March, a 0.5% decrease, according to the Bureau of Labor Statistics’ quarterly census of employment and wages.

While 20% struggle with family obligations that make career shifts nearly impossible, such as the need for a stable income or caregiving responsibilities.

Others are held back by fear of failure or a lack of self-confidence (18%). Many feel unsure about stepping into a new career or starting a business, worried that the financial risk or potential setbacks might outweigh the benefits, making it difficult to pursue their dreams wholeheartedly.

But which US states are facing financial barriers?

While many Americans face financial obstacles in pursuing their dream jobs, the challenge varies by state.

In New Jersey, a staggering 49% of respondents reported that financial limitations prevent them from pursuing their dream jobs, making it the state with the highest percentage of residents feeling held back by money concerns.

Mississippi closely follows with 47%, and Illinois rounds out the top three with 45% of respondents in the same situation.

“It’s not surprising that financial constraints are such a significant barrier to Americans pursuing their dream jobs, says Dan Marshall, Group Head of Digital at Moneypenny and VoiceNation. “The cost of education, startup capital, and even basic living expenses can be overwhelming when you’re trying to carve out a new career path.

However, it’s crucial for individuals to seek out resources and support networks, whether through financial planning or advice from business mentors, to help overcome these challenges. With the right guidance and determination, the pursuit of a dream job can still be within reach.”

The data also found that 9% of Americans have dreamt of starting a business, but with financial barriers in the way, what options are available?

“Any founder knows that funding plays a crucial role in building sustainable, growing businesses,” said Andrea Reynolds, Co-founder and CEO at Swoop. “While many of us are rightly wary of getting into too much personal debt, borrowing for a business should be thought of as a way to use your future success to invest in your business now,”

“For example, if you can’t earn anything until you have a truck to carry out your work, it makes sense to borrow and get a truck so that you can start earning. Lenders have produced innovative products aimed at solving particular business problems, with many businesses finding non-traditional products more suitable for their needs.”

“Swoop has a focus on boosting cash flow for customers, We will look at saving money on financial products such as bank accounts and insurance, as well as getting the best deals on borrowing. We also have an active grants department to identify government help and a network of equity investors looking for businesses to back.