Download or read book Effect of Financial Resources and Credit on Savings Behavior of Low Income Families written by Joan Koonce Lewis and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examined the effects of available financial resources, credit use, savings attitudes, methods of saving, and demographic characteristics on the change in low-income families' real savings (change in real net worth) from 1983 to 1986. Multiple regression results indicated that having a higher level of education, having larger families, and expecting financial assistance from friends or relatives in emergency situations increased real savings. In addition, having higher outstanding 1983 noninstallment loan balances increased real savings, while having lower 1983 net worth increased real savings from 1983 to 1986.

Download or read book Striving to Save written by Margaret Sherrard Sherraden and published by University of Michigan Press. This book was released on 2010-02-08 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The struggles of low-income families trying to build savings accounts

Download or read book A Fragile Balance written by J. Collins and published by Springer. This book was released on 2015-03-11 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Fragile Balance examines strategies to promote emergency savings, especially among underserved households. Each chapter is by an expert contributor and proposes an innovative financial product or service designed to bolster emergency savings among low-asset families. This collection also offers readers insights into the role of emergency savings and mechanisms to facilitate savings behaviors, and raises critical questions of the scale, institutional capacity, sustainability, accessibility, and effectiveness of existing programs.

Download or read book A Roadmap to Reducing Child Poverty written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2019-09-16 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strengths and abilities children develop from infancy through adolescence are crucial for their physical, emotional, and cognitive growth, which in turn help them to achieve success in school and to become responsible, economically self-sufficient, and healthy adults. Capable, responsible, and healthy adults are clearly the foundation of a well-functioning and prosperous society, yet America's future is not as secure as it could be because millions of American children live in families with incomes below the poverty line. A wealth of evidence suggests that a lack of adequate economic resources for families with children compromises these children's ability to grow and achieve adult success, hurting them and the broader society. A Roadmap to Reducing Child Poverty reviews the research on linkages between child poverty and child well-being, and analyzes the poverty-reducing effects of major assistance programs directed at children and families. This report also provides policy and program recommendations for reducing the number of children living in poverty in the United States by half within 10 years.

Download or read book Financial Capability and Asset Building in Vulnerable Households written by Margaret Sherraden and published by Oxford University Press. This book was released on 2018-03-28 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial struggles of American families are headline news. In communities across the nation, families feel the pinch of stagnant and sometimes declining incomes. Many have not recovered from the Great Recession, when millions lost their homes and retirement savings. They are bombarded daily with vexing financial decisions: Which bills to pay? Where to cash checks? How to cover an emergency? How to improve a credit report? How to bank online? How to save for the future? Low- and moderate-income families have few places to turn for guidance on financial matters. Not many can afford to pay a financial advisor to help navigate an increasingly complex financial world. They do their best with advice from family and trusted individuals. Social workers, financial counselors, and human services professionals can help. As "first responders," they assist families and help in finding financial support from public and private sources. But these professionals are too often unprepared to address the full range of financial troubles of ordinary working families. Financial Capability and Asset Building in Vulnerable Households prepares social workers, financial counselors, and other human service professionals for financial practice with vulnerable families. Building on more than 20 years of research, the book sets the stage with key concepts, historical antecedents, and current financial challenges of families in America. It provides knowledge and tools to assist families in pressing financial circumstances, and offers a lifespan perspective of financial capability and environmental influences on financial behaviors and actions. Furthermore, the text details practice principles and skills for direct interventions, as well as for designing financial services and policy innovations. It is an essential resource for preparing the next generation of practitioners who can enable families to achieve economic security and development.

Download or read book Can the Poor Save written by Michael Sherraden and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "Many policymakers argue that the best poverty policy not only provides cash to the poor for subsistence but also incentives and structures that encourage long-term social and economic improvement. As part of this, they make the case for Individual Development Accounts (IDAs), a new policy proposal designed to help the poor save and to build assets. This book explores IDAs to determine their effectiveness. IDAs are matched savings accounts targeted on low-income, low-wealth individuals. Savings in IDAs are used for home ownership, post-secondary education, small business development, and other purposes. Do IDAs work? If they do, for whom? And does how an IDA is designed determine savings outcomes? This volume is the first analysis of matched savings by the poor to use data from monthly bank statements. It comes at a critical time, as debate rages over the merits of individual social security accounts. IDAs also respond to policy that is becoming more asset based and less inclusive of the poor. The authors argue for the efficacy of IDAs to counter this tendency. They find that while savings outcomes vary among participants, no characteristics (such as low income or public assistance) preclude saving. They examine effects of IDA design (the match rate, savings targets, and the use of automatic transfer) on savings results and analyze factors that influence varying rates of saving and spending over time. They conclude that financial education and other support services, though costly, improve savings performance. To address the issue of cost they suggest a two-tier system of IDA design, one with broad access and simple services and the other with targeted access and intensive services. Can the Poor Save? offers a wealth of lessons to those interested in saving and asset accumulation among the poor. It not only breaks new ground in the scientific study of savings behavior, but also offers concrete, evidence-based recommendations to improve policies designed to encourage the poor to save and how to make such policies more inclusive."--Provided by publisher.

Download or read book Health Insurance is a Family Matter written by Institute of Medicine and published by National Academies Press. This book was released on 2002-09-18 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health Insurance is a Family Matter is the third of a series of six reports on the problems of uninsurance in the United Sates and addresses the impact on the family of not having health insurance. The book demonstrates that having one or more uninsured members in a family can have adverse consequences for everyone in the household and that the financial, physical, and emotional well-being of all members of a family may be adversely affected if any family member lacks coverage. It concludes with the finding that uninsured children have worse access to and use fewer health care services than children with insurance, including important preventive services that can have beneficial long-term effects.

Download or read book Inclusion in the American Dream written by Michael Sherraden and published by Oxford University Press. This book was released on 2005-07-21 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inclusion in the American Dream brings together leading scholars and policy experts on the topic of asset building, particularly as this relates to public policy. The typical American household accumulates most of its assets in home equity and retirement accounts, both of which are subsidized through the tax system. But the poor, for the most part, do not participate in these asset accumulation policies. The challenge is to expand the asset-based policy structure so that everyone is included.

Download or read book Individual and Institutional Factors Related to Low Income Household Saving Behavior written by Stuart Heckman and published by . This book was released on 2017 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research sought to further understanding of factors related to low-income household saving behavior. Saving behavior, defined as whether a household spent less than income, was analyzed by applying institutional theory, which proposes that households' institutional environment has a substantial effect on financial decisions. Two logistic regression models were used to test the effects of variables on saving behavior; the first logit was based on the life cycle hypothesis and the second added noneconomic individual factors (i.e., social networks, financial literacy, and psychological variables) and institutional factors (i.e., access, incentives, and facilitation). Institutional factors, including the number of institutions used, credit access, and having an employer sponsored retirement plan, had significant effects even after controlling for the effect of variables based on the life cycle model, suggesting that promoting institutional access and facilitation - especially through employer-provided plans - may encourage saving behavior among low-income households.

Download or read book Vulnerability to Poverty written by M. Grimm and published by Springer. This book was released on 2016-04-30 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the current global crisis, high levels of volatility in trade, capital flows, commodity prices, aid, and the looming threat of climate change, this book brings together high-quality research and presents conceptual issues and empirical results to analyze the determinants of the vulnerability to poverty in developing countries.

Download or read book Handbook of Behavioral Economics Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 749 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics

Download or read book The Impacts of Mandatory Financial Education written by J. Michael Collins and published by . This book was released on 2014 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial education is commonly assumed to affect knowledge and behavior, yet its impacts remain relatively untested. Very low-income families in a subsidized housing program were randomly assigned to a mandatory financial education program and tracked for 12 months. Financial education led to improvements in self-reported behaviors, but no measurable effects on savings or credit, except for participants in education expanding their use of credit, albeit with no evidence of problems in the study period. This study also illustrates the methodological issues that arise in social experiments with small samples, including non-compliance, attrition and self-report bias.

Download or read book Public Policy and the Income Distribution written by Alan J. Auerbach and published by Russell Sage Foundation. This book was released on 2006-01-23 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Public Policy and the Income Distribution tackles many of the most difficult and intriguing questions about how government intervention - or lack thereof - has affected the incomes of everyday Americans. The twentieth century was remarkable in the extent to which advances in public policy helped improve the economic well being of Americans. Synthesizing existing knowledge on the effectiveness of public policy and contributing valuable new research, Public Policy and the Income Distribution examines public policy's successes, and points out the areas in which progress remains to be made."--BOOK JACKET.

Download or read book The Effect of Minority Low income and First generation Status on the Financial Capabilities of Students at Mississippi State University written by Cecilia Brooks and published by . This book was released on 2020 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data collected from undergraduate students attending a southeastern United States University, the current dissertation includes two manuscripts examining the relationships between personal characteristics, financial socialization, financial capability and financial well-being among college students. These relationships were also compared between a focal group of students identifying as minority, low-income, and first-generation students to a comparison group not identifying as minority, low-income, or first-generation students. The first study used structural equation modeling to explore the relationships between personal characteristics (i.e., attachment, locus of control, and self-esteem), financial socialization, and the four dimensions of financial capability (financial knowledge, access to financial resources, attitudes, and actions). Findings suggest financial socialization partially mediated the relationships between personal characteristics and financial attitudes and financial actions. These findings suggest that parents continue to play a role in the development of financial attitudes and behaviors of college students. The second study used regression analysis to examine how financial knowledge and skills (i.e., applied knowledge), materialistic attitudes, compulsive spending behaviors, and access to financial resources (i.e., number of bank accounts, credit cards, and alternative financial services) are related to students’ financial well-being. Findings suggest greater financial skills and less materialistic views are related to greater financial well-being. However, among those not identifying as minority, low-income, or first-generation college students less compulsive spending behaviors and greater credit card use were positively related to financial well-being; among minority, low-income, or first generation college students, alternative financial services usage was related negatively to financial well-being.

Download or read book Banking the Poor written by and published by World Bank Publications. This book was released on 2009-01-01 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking the Poor explores level and determinants of financial access in 54 countries, mostly in Africa. It collects information from two sources: central banks and leading commercial banks in each surveyed country. It explores associations between countries' banking policies and practices and their levels of financial access, measured in terms of the numbers of bank account per thousand adults. It builds on the previous work measuring financial access through information from regulators, from banks, and also from users' perspectives in household surveys.

Download or read book The Financial Diaries written by Jonathan Morduch and published by Princeton University Press. This book was released on 2017-04-04 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the groundbreaking U.S. Financial Diaries project (http://www.usfinancialdiaries.org/), which follows the lives of 235 low- and middle-income families as they navigate through a year, the authors challenge popular assumptions about how Americans earn, spend, borrow, and save-- and they identify the true causes of distress and inequality for many working Americans.

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.