Pew’s financial security and mobility project studies the financial well-being of American families and how their balance sheets relate to both short-term financial stability and longer-term economic mobility. The initiative builds on Pew research that shows savings and assets are key to moving up the economic ladder, both within a lifetime and across generations. The project strives to foster policy debate and action on how best to improve opportunity to ensure that the American Dream is within reach of everyone.
The Role of Emergency Savings in Family Financial Security: What Resources Do Families Have for Financial Emergencies?
For the typical family, earnings have grown little over the past decade and income has frequently been volatile, with more than half of U.S. households reporting that income or expenses vary from month to month. Income alone, however, no matter how consistent, does not guarantee that households can accumulate a sufficient financial cushion to protect themselves from the unexpected. One in 3... Read More
Most American families lack the necessary cushion to cope with financial shocks, according to research from The Pew Charitable Trusts, which found that 33 percent of American families say they have no money they think of as savings, including 10 percent who have incomes of more than $100,000 a year. Read More
In a series of three issue briefs to be released over the coming weeks, Pew shows the extent to which households are financially vulnerable when faced with a financial shock. The briefs provide insight into the financial risks that Americans face and the impact of shocks on family balance sheets; households’ level of preparation to address emergency needs; and the implications of... Read More