Consumer Finances of Low-Income Families

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2016-01-01
Authors
Nielsen, Robert
Fletcher, Cynthia
Bartholomae, Suzanne
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Fletcher, Cynthia
Professor Emeritus
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Human Development and Family Studies

The Department of Human Development and Family Studies focuses on the interactions among individuals, families, and their resources and environments throughout their lifespans. It consists of three majors: Child, Adult, and Family Services (preparing students to work for agencies serving children, youth, adults, and families); Family Finance, Housing, and Policy (preparing students for work as financial counselors, insurance agents, loan-officers, lobbyists, policy experts, etc); and Early Childhood Education (preparing students to teach and work with young children and their families).

History


The Department of Human Development and Family Studies was formed in 1991 from the merger of the Department of Family Environment and the Department of Child Development.

Dates of Existence
1991-present

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  • College of Human Sciences (parent college)
  • Department of Child Development (predecessor)
  • Department of Family Environment (predecessor)

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Human Development and Family Studies
Abstract

The Great Recession, and the slow recovery afterward, affected families from all socioeconomic strata. However, low-income families were hardest hit on many consumer finance indicators. To highlight the challenges facing low-income families we examine recent patterns of consumer finance holdings relative to higher-income families. We then review recent research on several dimensions of the financial environment of low-income families, including banking; asset holdings including home ownership; use of credit and alternative financial services; and access to health insurance. A discussion of future directions for research on the consumer finances of low-income families completes the chapter.

Comments

This accepted book chapter is published as Nielsen, R. B., Fletcher, C. N., and S. Bartholomae. “Consumer Finances of Low-Income Families.” In J. Xiao (ed.) Handbook of Consumer Finance Research. New York NY: Springer. 2016 (2nd edition); 167-178. Posted with permission.

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Fri Jan 01 00:00:00 UTC 2016
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