Work

Debt and Assets Among Low-Income Families

Year: 2003

Type: article

Abstract: Low-income families today are burdened with rising levels of family debt but have few assets to leverage if they are confronted by a financial crisis, such as a job layoff or long illness. Our new report finds that among low-income families the average debt doubled between 1984 and 2001, while most have only a few hundred dollars in liquid assets.

Source: Columbia Academic Commons (Columbia University)

DOI: 10.7916/d8gx4m87

Author: Wagmiller, Robert Lee

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: No poverty

Open Access status: green

OpenAlex ID: W2170899294

FWCI: 1.232

Cites: 3

Cited by: 19

Related to: 10