The Working Poor: From the Economic Margins to Asset Building

M J Hogan-Schiltgen; Catherine Solheim; Susan Wolfgram; Busisiwe Nkosi; Nicola Rodrigues

The Working Poor: From the Economic Margins to Asset Building

M J Hogan-Schiltgen, Catherine Solheim, Susan Wolfgram, Busisiwe Nkosi, Nicola Rodrigues

Family Social Science

Research output: Contribution to journal › Review article › peer-review

18 Scopus citations

Abstract

Data from 25 participants in the Family Assets for Independence in Minnesota (FAIM) project were used to identify factors that enabled these low-income wage-earning families to save money and build assets. FAIM, part of the Individual Development Account movement, is a pilot program for families with incomes ≤ 200% of poverty to build assets. An analytic induction method was used to identify constructs from three waves of interviews conducted during 2001-2002. Our focus is on four of the eight major constructs that emerged: financial vulnerability, personal attributes, social support, and resource management strategies. Our findings provide evidence that low-income families can save money toward a goal in the face of hardships and become asset builders.

Original language	English (US)
Pages (from-to)	229-236
Number of pages	8
Journal	Family relations
Volume	53
Issue number	2
State	Published - Mar 2004

Keywords

Assets
Families
Individual Development Accounts
Policy
Poverty
Savings

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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AB - Data from 25 participants in the Family Assets for Independence in Minnesota (FAIM) project were used to identify factors that enabled these low-income wage-earning families to save money and build assets. FAIM, part of the Individual Development Account movement, is a pilot program for families with incomes ≤ 200% of poverty to build assets. An analytic induction method was used to identify constructs from three waves of interviews conducted during 2001-2002. Our focus is on four of the eight major constructs that emerged: financial vulnerability, personal attributes, social support, and resource management strategies. Our findings provide evidence that low-income families can save money toward a goal in the face of hardships and become asset builders.

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The Working Poor: From the Economic Margins to Asset Building

Abstract

Keywords

UN SDGs

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