Studies show that low-income families are more likely to be unbanked and “underbanked” than families with higher earnings. Lacking a bank account or depending on alternative financial services leads to significant financial barriers for low-income families that hinder economic growth and social mobility. This session will evaluate strategies that local and state human services agencies are testing to equip TANF recipients with the financial knowledge and resources they need to overcome barriers to financial security, including ACF’s Asset Initiative Partnership. Gretchen Lehman (Administration for Children and Families) will moderate this session.
• Financial Counseling and Financial Access for the Financially Vulnerable
Kasey Wiedrich (Corporation for Enterprise Development)
The presentation examines financial management strategies among low-income families. Two research studies are described: Children's HealthWatch and Witnesses to Hunger.
• Building Economic Self-Sufficiency of TANF Clients Through Financial Education and Matched Savings