Economy
Even a Tiny Savings Cushion Can Help Families Avoid Hardship
Families with even a small amount of savings are more able to endure income disruptions without relying on public benefits.
The point seems like an obvious one: “The economic health of cities and communities depends on the financial health and stability of their residents.” No one would expect otherwise. What else could account for the economic health of a city but for the people living there?
That the wealth of families adds up to the wealth of cities isn’t in question. But how the financial health of families contributes to a city’s financial health in particular is harder to say. For a new report, researchers at the Urban Institute set out to answer a few fundamental questions about how the financial health of families translates to the financial health of cities in the U.S.