Analyzing the Landscape of Saving Solutions for Low-Income Families Part 1: The Savings Crisis and the Need for Holistic Solutions
America currently faces a savings crisis, as nearly half of the U.S. population doesn't have $400 to cover an unanticipated expense. While there is a variety of saving solutions available for low- to moderate-income (LMI) households, they are scattered and often do not meet the complex needs of the people who could benefit from them. This series of briefs, titled Analyzing the Landscape of Saving Solutions for Low-Income Families, details the saving challenges LMI households face, maps out the types of saving products available, describes user experiences with those products, shares research and discusses the future of savings solutions.
In part one, The Savings Crisis and the Need for Holistic Solutions, identifies the causes of America's savings crisis and lays out the priorities to make savings solutions more comprehensive in their design and impact.