Financial Well-Being in Low- and Moderate-Income Households: How Does It Compare to the General Population?

Author

Sicong Sun, Washington University in St. Louis
Olga Kondratjeva, Washington University in St. Louis
Stephen P. Roll, Washington University in St. Louis
Mathieu Despard, Washington University in St. Louis
Michal Grinstein-Weiss, Washington University in St. Louis

Publication Date

12-12-2018

Publisher

Social Policy Institute at Washington University in St. Louis

Summary

Research has increasingly shed light on the precariousness of many households’ financial situations. For example, a large national survey showed that 41 percent of adults lack sufficient liquidity to cover even a modest $400 emergency without taking on debt or selling an asset;¹ a problem that is exacerbated for lower-income households.² Compounding this issue is the fact that financial shocks, such as the loss of income or a major car repair, are common; 60 percent of U.S. households reported a shock in the prior year at a median cost of $2,000^.3

Document Type

Research Brief

Original Citation

Sun, S., Kondratjeva, O., Roll, S. P., Despard, M., & Grinstein-Weiss, M. (2018). Financial well-being in low- and moderate-income households: How does it compare to the general population? (SPI Research Brief No. 18-03). St. Louis, MO: Washington Univer-sity, Social Policy Institute.

Notes

Permanent URL: https://doi.org/10.7936/af1p-gt02

DOI:

https://doi.org/10.7936/af1p-gt02

Project

Refund to Savings (R2S)

Recommended Citation

Sun, S., Kondratjeva, O., Roll, S. P., Despard, M., & Grinstein-Weiss, M. (2018). Financial well-being in low- and moderate-income households: How does it compare to the general population? (SPI Research Brief No. 18-03). St. Louis, MO: Washington Univer-sity, Social Policy Institute.