Family Finances

How Low-Income Households Save—And Can We Help?

Event information
Date
Wed Oct 28, 2020
10:00am - 11:00am EDT
Location
Virtual
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Savings has traditionally been measured by asking about “account” balances, or in national accounts by comparing incomes to expenditures. But we know that low-income households often save actively. They build up and draw down their funds throughout the year—what Nobel Laureate Angus Deaton termed “high frequency savings”—even if their balances don’t grow.

Short-term savings are a key part of the financial lives of low-income households in the US and in developing countries; the challenges they face in building up and effectively using their savings are quite similar as well.

This edition of faiVLive—co-presented with the Aspen Institute Financial Security Program—brings together researchers and practitioners to look at how short-term savings work and don’t work, with a particular eye to whether and how savings for low-income households can be boosted.

#AspenFSPLive #faiVLive

Moderator:
Timothy Ogden, Managing Director, FAI

Featuring:
Jessica Goldberg, University of Maryland
Jonathan Lee, Neighborhood Trust Financial Partners
Genevieve Melford, Aspen Institute Financial Security Program
Jonathan Morduch, New York University and FAI

Suggested reading:

The Cycle of Savings: What We Gain When We Understand Savings as a Dynamic Process

The Great Convergence: Toward a Global Strategy for Financial Inclusion

Savings Horizons: U.S. Financial Diaries Issue Brief

Supported by the Mastercard Impact Fund, in collaboration with Mastercard Center for Inclusive Growth.