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Asset building for low income families

Asset building for low income families. Marieka Klawitter Winter 2013. Asset-building is a large umbrella. Needs Continuum from: Stabilizing income and expenses (securing jobs and income ), to Savings, to Asset-building efforts (home ownership to growing businesses and communities)

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Asset building for low income families

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  1. Asset building for low income families Marieka Klawitter Winter 2013

  2. Asset-building is a large umbrella • Needs Continuum from: • Stabilizing income and expenses (securing jobs and income), to • Savings, to • Asset-building efforts (home ownership to growing businesses and communities) • Policy target continuum: Policies can vary mix of individual and community outcomes as targets • Asset life-cycle continuum: acquisition, leverage, maintenance

  3. Human capital/ Income support Savings/ accumulation Credit/ Deployment

  4. Policy or Program Target Continuum Individual • Financial assets: savings • Human Capital (education, training, work experience) • Home ownership • Business ownership • Social or cultural capital • Natural assets (water, land, air) • Infrastructure or institutions • Legal or Political assets • Cultural assets (e.g., customs, rituals, arts) Community

  5. Asset building lifecycle First Nations Development Institute. 2009. Native American Asset Watch: Rethinking Asset-Building in Indian Country

  6. In-flow adds to stock Stock is the level at the current time RETURNS From stock (depend on level) Out-flow subtracts from stock Stocks and Flows of an Asset

  7. Over-arching Principles for Asset-building • Services and institutions have to be culturally appropriate • Mentoring is a component of all programs and initiatives • Connecting people to communities deepens impacts of efforts and creates sustainability • Diverse needs: No policy or program can work for all communities or families • As individuals and communities evolve so do their asset needs • Value-added interventions depend on needs, opportunities, and institutions

  8. The Big Questions in Asset-building: • How is an asset-building framework different than an income or needs based framework? What are the implications for policy? • What is the empirical evidence of the effects of assets on low income families and communities? • What are the most promising asset building strategies? • How do assets for individuals or families interact with assets for communities?

  9. Readings for this week: • Miller-Adams (ch. 1) • McKernan and Sherraden. Chapters 1 and 2). • First Nations Development Institute . (2009) Native American Asset Watch: Rethinking Asset-Building in Indian Country. • Bricker, Jesse et al. 2012. "Changes in U.S. Family Finances 2007-2009: Evidence from the Survey of Consumer Finances"

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