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Consumer Finances of Low-Income Families

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Handbook of Consumer Finance Research

Abstract

The Great Recession and the slow recovery afterward affected families from all socioeconomic strata. However, by many measures low-income families were hardest hit. To highlight the consumer finance challenges currently faced by low-income families we combine data from the Survey of Income and Program Participation with a review of several relevant research areas. These include real income declines before and after the recession; trends in being unbanked/underbanked; the use of credit and alternative financial services; savings and asset accumulation, including homes and vehicles; and health insurance. A brief discussion of future directions for research completes the chapter.

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Authors and Affiliations

  1. Department of Financial Planning, Housing and Consumer Economics, University of Georgia, 205 Dawson Hall, Athens, GA, 30602, USA

    Robert B. Nielsen Ph.D.

  2. Department of Human Development and Family Studies, Iowa State University, 66 LeBaron Hall, Ames, IA, 50011, USA

    Cynthia Needles Fletcher Ph.D.

  3. Department of Human Development and Family Studies, Iowa State University, 58 LeBaron Hall, Ames, IA, 50011, USA

    Suzanne Bartholomae Ph.D.

Authors
  1. Robert B. Nielsen Ph.D.
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  2. Cynthia Needles Fletcher Ph.D.
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  3. Suzanne Bartholomae Ph.D.
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Correspondence to Robert B. Nielsen Ph.D. .

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Editors and Affiliations

  1. Univ of Rhode Island, Transition Center, Department of Human Development and Family Studies,, Kingston, Rhode Island, USA

    Jing Jian Xiao

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Nielsen, R.B., Fletcher, C.N., Bartholomae, S. (2016). Consumer Finances of Low-Income Families. In: Xiao, J. (eds) Handbook of Consumer Finance Research. Springer, Cham. https://doi.org/10.1007/978-3-319-28887-1_14

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