Financial Well-Being

“Income is how you get out of poverty; assets are how you stay out.” How do we build policies, programs, and products that reduce systematic inequality and advance financial security for all?

Is Rags to Riches the Right Measure?

Comparative income quintiles don’t tell us very much about the material conditions of people’s lives. When someone rises into the top fifth, someone else falls into the bottom fifth.

Scoring Homeownership: Looking at the Long Game

Today’s economic climate offers little hope to many struggling families. Family incomes still lag in comparison, for example, to rising housing costs in many markets.

Keeping Justice in Mind as We Talk Asset-Building

I attended my first ever Assets Learning Conference, put on by CFED last week, and I have to say it was mighty impressive. And I was particularly pleased to see that economic justice and things like reforming the tax code to be less regressive and reward savings by low- and middle-income Americans, rather than mostly […]

Does the Current Reliance on Credit Scores Deny Deserving Applicants?

Last week, we asked readers if credit scores were too much of a driver in home loan approval. You answered overwhelmingly that yes, credit...
Business Hours sign on glass door.

Unstacking the Deck for African-American Entrepreneurs

The truth is most entrepreneurs’ firms don’t grow quickly, employ people, or earn much money. And, more importantly, entrepreneurial success has far less to do with exceptional skill than with one’s ability to weather repeated failure and financial loss.
A chart of the United States showing where the U.S. Financial Diaries study occurred - California, Eastern Mississippi, Ohio/Kentucky, and New York City.

Is Financial Unsteadiness the New Normal?

A yearlong analysis of 200-plus households suggests that we should add a third leg to the financial security stool along with income and assets: cash flow.
CFPB exterior

A Message for CFPB’s Kathy Kraninger: Stand with People, Not Profits

The CFPB's new head must unequivocally stand with low-income communities of color and restore public trust.

Not All Asian Elderly Are Well Off

Too many of us have the misconception that elderly Asian Americans live a charmed life that is financially secure with strong family ties. This isn’t accurate.
A blue and white Louisiana road sign.

After a Far Fall, Is Louisiana Becoming a Better Place for its Lower Income...

When the 2017 Prosperity Now Scorecard was published last month, it was no surprise that Louisiana ranked second-to-last among all 50 states and the District of Columbia, as it typically falls somewhere near the bottom. In many ways, the Scorecard confirmed what we already knew: that most Louisiana families, especially low-income families and families of color, are not faring well financially. What was surprising, however, was how far Louisiana had fallen.

Keeping Everyone Afloat: Is Universal Basic Income the Answer?

Advocates and organizers who deal with the needs of the poor often say it's not really a housing/food/training issue, it's an income issue. So what would happen if we just addressed income?
A woman leads a credit building class at Stephens Creek Crossing, a Hope 6 property owned and operated by Home Forward.

An Opportunity for Housing Providers to Help Renters Build Credit

Of the 987 low-income renters whose rents were reported through a pilot program, 79 percent saw their VantageScore increase by an average of 23 points, and 15 percent moved into a lower credit score risk tier.

Millennial Women and Retirement Savings: Start Where You Are

Today, most women have the autonomy and ability to take charge of our finances, but we don’t all do it.
A key in focus

Despite Progress, States Have Work to do to Ensure Access to Affordable Rental Housing...

If expanding access to homeownership can reverse the trends of growing racial wealth inequality, why are we seeing so many states roll back the supports that make homeownership possible?
A woman and man stand together smiling in front of their new home in North Carolina. They received a loan not based on credit scores, but on character.

Challenging the Almighty Credit Score

A majority of mainstream lenders base loan approvals on a hotly debated three-digit score. Are there better, fairer ways to assess risk?
The cover of Generation Priced Out by Randy Shaw.

Millennials and the Affordability Crisis: A Review of Generation Priced Out

As tenant struggles become a bigger focus of activist recruitment, Randy Shaw’s new book, Generation Priced Out, is an essential organizing guide.

Context for the Racial Wealth Divide May Free American Minds, and Mindsets

Black people were excluded from many of the income and wealth-building programs that helped build the foundation of white Americans’ wealth today.

The Reports are In: Homeownership Rising, Renters Suffering, Income Gaps Growing

City Life, Homeownership, and the American Dream Americans' impressions of cities are improving, according to Fannie Mae's 1997 National Housing Survey, City Life, Homeownership, and...
home with sold sign in front

Equitable Tax Reform Begins at Home(ownership)

Talk of tax reform has reached a fever pitch, but most Americans don't realize just how high the stakes are and what impact the final legislation could have on their own financial security for years to come.

Well Worth the Read

Reading What It’s Worth was like walking through one of the glorious Asset Learning Conferences that CFED organizes, equipped with a magical Harry Potter wand that allows me to stop and re-work time so I can peer into each workshop at my leisure.
houses

Can Estate Planning be Used to Help Preserve Economic Assets in Low-Income Communities?

Estate planning should be employed as part of a broader plan of preservation of wealth and assets in communities of color.