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Consumer Finances of Low-Income Families

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Handbook of Consumer Finance Research

Abstract

Serious challenges face families at the bottom of the economic ladder. The difficulties of balancing low incomes against expenditures are exacerbated by a lack of assets and insurance. We examine patterns of family asset ownership and health insurance coverage rates. A review of research focuses on selected dimensions of the financial environment of low-income families: the phenomena of the “unbanked,” home ownership trends, credit use and predatory lending. In each of these areas, additional research is needed to identify ways to help families not only meet their needs, but also to accumulate assets that promote long-term economic well-being.

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Author information

Authors and Affiliations

  1. Department of Human Development and Family Studies, Iowa State University, 4380 Palmer Building, Ames, IA 50011, USA

    Steven Garasky

Authors
  1. Steven Garasky
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  2. Robert B. Nielsen
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  3. Cynthia Needles Fletcher
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Editor information

Editors and Affiliations

  1. University of Rhode Island Transition Center, 2 Lower College Rd., Kingston, RI 02881, USA

    Jing Jian Xiao Ph.D.

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Garasky, S., Nielsen, R.B., Fletcher, C.N. (2008). Consumer Finances of Low-Income Families. In: Xiao, J.J. (eds) Handbook of Consumer Finance Research. Springer, New York, NY. https://doi.org/10.1007/978-0-387-75734-6_13

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