Financial Well-Being

A lack of access to capital, capacity-building resources, and technical assistance significantly constrains the ability of CDFIs led by people of color to achieve greater impact.

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.

SoFi is practicing product segregation. It wants to serve affluent people with its best products and shunt low- and moderate-income borrowers into inferior products that do not meaningfully serve credit needs.

Over an organization’s 25 years in existence, how do staff and volunteers measure impact and build off of lessons learned to guide their next steps forward?

These ideas aren’t new, but pulling them together in a collective, coherent way will push back against those who, like their predecessors of 80, 70, 60 and 50 years ago, would deny long-term stability to those for reasons more than just the color of their money.

How would the trajectories of children’s lives change if they knew that their state, their community and their parents were investing in their future success for as long as they could remember?

Recently, more than 150 people from across the nation rolled along the backroads of the iconic Mississippi Delta, peering through bus windows at scene after scene of entrenched poverty juxtaposed against occasional pockets of progress that had been achieved against seemingly insurmountable odds. While there were signs of advancement, they were set against the backdrop of conditions that disproportionately plague these places—substandard housing, underperforming schools, inadequate access to quality health care, and limited private and philanthropic investment. 

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

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

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.

Seven percent of U.S. households, a group roughly the size of the population of Australia, were “unbanked” in 2015, meaning they have neither a checking nor savings account. This is the lowest unbanked rate recorded since the survey first launched in 2009

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?

The absence of bank branches and the proliferation of high-priced alternative lenders in the region only underscore the importance of access to affordable financial services.

While I am a firm believer in equal access to higher education for all, it’s over-emphasized in our individualistic culture as a solution to society’s woes.

In a world of growing financial complexity, predatory products, stagnating wages, and escalating inequality, financial insecurity is a dramatic problem. We gathered a group of leaders who are combating financial insecurity for a conversation on how it all relates.

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.

Research shows a connection between the financial instability of families and the economic health of communities.

Unpredictable hours lead to unpredictable cash flow, which is a barrier to budgeting and saving. One response to this, the Opportunity to Work Initiative, would require that San Jose employers give more hours to part-time employees before hiring new staff.

A majority of mainstream lenders base loan approvals on a hotly debated three-digit score. Are there better, fairer ways to assess risk?

What does it take to achieve financial security for the millions of American households without it? Clearly full employment, higher wages, and a more robust safety net would be some major components. But as important as those are, they aren’t the full picture. Assets are an important counterweight to income.