“Many families live paycheck to paycheck—often while coping with volatile income and expenses. With little to no savings and a limited social safety net, families are vulnerable to inevitable financial shocks. This event will highlight American families’ financial struggles and move beyond the problem to discuss coping mechanisms and strategies by which families can gain greater stability and achieve financial health, as well as policies and products through which the financial services industry and government can make that journey easier.
During the panel discussion, Lisa Servon, author of The Unbanking of America: How the New Middle Class Survives, will discuss the difficulties consumers encounter in the mainstream bank and credit system. Rachel Schneider, coauthor of The Financial Diaries: How American Families Cope in a World of Uncertainty (forthcoming), will discuss the struggles and coping strategies of families from diverse communities, and the products and policies that could improve their opportunities for success. Urban Institute scholar Caroline Ratcliffe will discuss research on the role of emergency savings and programs to help families build wealth and get ahead.” by Urban Institute.