From the National Poverty Center at the University of Michigan, this publication examines the financial constraints and choices of low-income families and describes the ways in which they utilize financial services. Authors also offer policy recommendations to distribute financial services to this population. Low-income populations are more likely to be unbanked due to financial institutions requiring credit checks to open an account, and having high minimum account balances and high overdraft fees. Savings and asset accumulation can often be key to promoting economic self-sufficiency for this population, and it is important to extend financial services and education to low-income families.

This resource was authored by the Finance Project and provides information on the American Recovery and Reinvestment Act of 2009 (ARRA). ARRA offers a variety of funding streams that can be accessed by asset-building leaders, and this guide is designed to help stakeholders make the most of the economic stimulus legislation by highlighting 16 funding opportunities.

This was a session at the Urban Partnerships for Welfare Reform National Academy, which was held in Atlanta, Georgia. Representatives from Los Angeles and San Diego presented on strategies to increase EITC take up among their TANF participants.

This Webinar was part of the Rural Communities Initiative's Rural Economic Development Webinar series. This Webinar provided an overview of successful entrepreneurship/microenterprise strategies and small business development models in rural communities. Presenters offered suggestions and strategies for improving small business development that will provide career opportunities to rural TANF participants moving from welfare to work.

As the 2008 tax filing deadline is fast approaching and millions of families are struggling in the economic recession, this report, from the Children’s Defense Fund, found that low-income families lose billions of dollars each year to predatory commercial tax preparers and highlights the importance of tax credits for working families. In tax year 2006, low-income families lost $3.1 billion of their Earned Income Tax Credit (EITC) benefits to high-interest, short-term loans, tax preparation fees, and other financial products issued by commercial tax preparers.

This Partner Toolkit was developed by the IRS, and includes an array of useful EITC marketing tools, including templates, statistics, fact sheets, how-to tips, specialized products, and links to other helpful resources. The IRS also provides Media Pod casts in English and Spanish on EITC information.

Researchers at the University of Washington gave this presentation at the Eleventh Annual Welfare Research and Evaluation Conference that is sponsored through the U.S. Department of Health and Human Services, Administration for Children and Families, Office of Planning, Research, and Evaluation. This study used data from an ethnographic study of 40 families over 3 years, and it was found that most families experience a Marginal Tax Rate “event.”

This presentation was given by researchers at the University of North Carolina Chapel Hill and the Center for Social Development at the Eleventh Annual Welfare Research and Evaluation Conference that is sponsored through the U.S. Department of Health and Human Services, Administration for Children and Families, Office of Planning, Research, and Evaluation. The research questions included: 1. Does IDA program participation affect clearing old debts as preparation for applying for a home loan? and 2. Does IDA program participation affect rates of homeownership among those who enter the program as renters? Among the findings, IDAs appear to be effective in helping low-income families save for a home.

This report discusses the correlation between car ownership and work readiness.  The publication addresses car ownership and leverages it as an asset-building strategy for helping people move into the labor market and helping low-wage workers gain access to better paying opportunities. In addition, it provides profiles and experiences of seven car-ownership programs, along with a bibliography of additional publications on transportation and poverty.

For lower-income families, financial support from family and friends can be a crucial support during economic crisis. This report, from the Urban Institute, provides information on family and friends that gave financial help, and found that 39 percent of respondents gave financial help in the past 12 months.