Telling the stories of how 200+ low- and moderate-income families manage their financial lives. A joint initiative with @CFSInnovation and @financialaccess.
Joined September 2014
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US Financial Diaries retweeted
Yes, getting a big refund means you overpaid your taxes. But in a low-inflation environment that amounts to a pretty good savings mechanism for millions of Americans bloomberg.com/opinion/articl…
It's not just about tomorrow, but week-to-week and month-to-month ups and downs. See Chapter 7 of The Financial Diaries. amzn.to/2kbpIEU
Luckily, there is just such a concept: It’s called material security.
Someone who has food and a roof over their head today, but doesn’t know whether they will tomorrow, should be considered poor bloom.bg/2RdfYpR
US Financial Diaries retweeted
Most poor households are only sometimes poor. Steady jobs don't mean steady income. Policies often don't fit needs. Despite the evidence, it's remarkably hard to shift the narrative about poverty.
Interesting new @AEI report on poverty & joblessness by @AngelaRachidi buries the lede. It's certainly true that the persistently poor have low employment, but most of the poor are *intermittently* poor & have no joblessness. aei.org/publication/the-pers…
US Financial Diaries retweeted
How often do workers have 20 hours/week one month, and less than that another month (and thus would lose SNAP?) Our CPS analysis finds nearly 1 in 5 adults (!!!) have this work pattern over a 16 month period.
US Financial Diaries retweeted
Important research characterizing and highlighting labor market conditions (yes, they work) safety net recipients face...including low, volatile wages. xitter.cf/dwschanz/status/102175…
My new paper: An understanding of the labor market that SNAP and Medicaid beneficiaries face makes clear that it will be difficult for many individuals and families to meet proposed work requirements. cbpp.org/research/poverty-an…
The issue: should we increase work requirements?
US Financial Diaries retweeted
Perhaps better framed as: Friends and family are central to financial lives of 90%+ of the world, goal shouldn't be to change that but to make relationships work better for all. See issue brief from US Financial Diaries: bit.ly/1T9B05A xitter.cf/MicroSave/status/10194…
‘Why do friends and family remain central to Kenyans’ financial choices?’ #LowIncomeLives #FinancialInclusion bit.ly/2L0rgPl
Policy should reflect actual financial lives and needs of Americans, especially low- and moderate-income families, not hypothetical models. An important step here. xitter.cf/dcjretiresecure/status…
New Senate legislation on rainy day ("sidecar") savings. AARP first wrote about this in 2015 and continues to research the topic. Our new study on what workers want should be available in late September: blog.aarp.org/2015/07/13/mak…
US Financial Diaries retweeted
thread about this new research note on how the legislated delay in the Earned Income Tax Credit has affected consumer spending ... xitter.cf/feds_notes/status/1009…
“High-frequency Spending Responses to the Earned Income Tax Credit” by Aladangady, Aron-Dine, Cashin, Dunn, Feiveson, Lengermann, Richard, and Sahm federalreserve.gov/econres/n…
US Financial Diaries retweeted
About 40% of respondents chose a (hypothetical) steady-paying job over a (hypothetical) job with varying pay -- even when the variable-pay job paid a whole lot more. Wow.
From the new (5/22/18) Federal Reserve SHED survey
US Financial Diaries retweeted
Here's my take on two important and accessible books about life on the margins of the US financial system @LisaServon and @JMorduch & @RachelSchneider: "Innovating and improvising the social contract in the US financial borderscape" tandfonline.com/doi/full/10.… … @JCultEcon
US Financial Diaries retweeted
"The challenge philanthropy faces in fighting poverty is not beyond our ability to overcome, but it is beyond single organizations to do it alone,” says @BrandeeMcHale, president of the @Citi Foundation. bit.ly/2uGnP8E
US Financial Diaries retweeted
Income volatility: The RCT!
Turns out that those scheduling policies that complicate workers' lives and shift risk onto their shoulders don't lead to higher profit. Evidence from the Gap. nyti.ms/2GemS8P
US Financial Diaries retweeted
Great piece by @aliezadurana @NewAmerica on income volatility with #JPMCInstitute and @USFDstudy data slate.com/human-interest/201…
US Financial Diaries retweeted
Debt and morality. Why aren't poorly-treated debtors rising up? Great conversation with historical context: @ProfessorWherry talks with @timothyogden at @AspenFSP
youtu.be/HyL03Kr_Lkg?t=1627
US Financial Diaries retweeted
#Scarcity by @m_sendhil and #TheFinancialDiaries by @JMorduch and @RachelSchneider -- book suggestions by @ChrisHughes, author of #fairshot #WhatsNowNY
US Financial Diaries retweeted
According to #JPMCInstitute research, cash flow has major influence on when consumers receive healthcare, not just when they pay for it. How did the experts respond? Read our summary from the #JPMHC18 conference to learn more: bit.ly/2DvttK8
US Financial Diaries retweeted
"Too Many Americans Suffer from Financial Instability. Their Employers Can Fix It" bit.ly/2CjLZFB #usfindiaries
US Financial Diaries retweeted
50 years ago this week the first ever PSID interview was collected. The 4,802 initial interviews lasted 63 minutes on average, and were collected in-home by paper questionnaire. #PSIDturns50 @UM_SRC
