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- Title
The Working Poor: From the Economic Margins to Asset Building.
- Authors
Hogan, M. Janice; Solheim, Catherine; Wolfgram, Susan; Nkosi, Busisiwe; Rodrigues, Nicola
- Abstract
Data from 25 participants in the Family Assets for Independence in Minnesota (FAIM) project were used to identify factors that enabled these low-income wage-earning families to save money and build assets. FAIM, part of the Individual Development Account movement, is a pilot program for families with incomes ≤ 200% of poverty to build assets. An analytic induction method was used to identify constructs from three waves of interviews conducted during 2001-2002. Our focus is on four of the eight major constructs that emerged: financial vulnerability, personal attributes, social support, and resource management strategies. Our findings provide evidence that low-income families can save money toward a goal in the face of hardships and become asset builders.
- Subjects
MINNESOTA; UNITED States; POOR families; SAVINGS; RESOURCE allocation; ASSETS (Accounting)
- Publication
Family Relations, 2004, Vol 53, Issue 2, p229
- ISSN
0197-6664
- Publication type
Article