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Consumer finances of low-income families

Date Added to Library: 
Thursday, June 16, 2016 - 20:37
ISBN/ISSN: 
978-3-319-28885-7
Digital Object Identifier (DOI): 
10.1007/978-3-319-28887-1
Priority: 
high
Individual Author: 
Nielsen, Robert B.
Needles Fletcher, Cynthia
Bartholomae, Suzanne
Reference Type: 
Publisher: 
Published Date: 
05/31/2016
Published Date (Date): 
Tuesday, May 31, 2016
Publication: 
Handbook of Consumer Science Research
Page Range: 
167-178
Year: 
2016
Language(s): 
Abstract: 

The Great Recession and the slow recovery afterward affected families from all socioeconomic strata. However, by many measures low-income families were hardest hit. To highlight the consumer finance challenges currently faced by low-income families we combine data from the Survey of Income and Program Participation with a review of several relevant research areas. These include real income declines before and after the recession; trends in being unbanked/underbanked; the use of credit and alternative financial services; savings and asset accumulation, including homes and vehicles; and health insurance. A brief discussion of future directions for research completes the chapter. (Author abstract)

Geographic Focus: 
Page Count: 
11
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