Peer Learning - US Financial Diaries - Jonathan Morduch
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Jonathan Morduch will talk about the Hidden Financial Lives of Low-Income Americans
Light Breakfast at 9 am followed by the talk from 9:30-11am
The recent recession intensified trends that have been transforming the American economy. As jobs and job quality change, families are experiencing major changes in how much they earn and how stable their economic lives are. Detailed surveys collected by the US Financial Diaries project (www.usfinancialdiaries.org) document a year in the financial lives of 235 families across the United States. The Diaries data show how the changes in labor markets affect families day to day. Increasingly, financial lives entail significantly more self-reliance, more risk, and more ups and downs. The results call for new ways to think about saving, anti-poverty policy, and financial innovation.