More than Money: The Role of Assets in the Survival Strategies and Material Well-Being of the Poor
It is argued that low-income households are concerned with accumulating financial assets & that the lack of assets significantly hinders the economic growth of such households. Qualitative in-depth interviews with low-income single mothers (N = 198) & noncustodial fathers (N = 180) were conducted to determine low-income households' access to both tangible & intangible assets. Several findings regarding the participants' access to money savings, stocks, & bonds, real estate, machinery & equipment used to sustain self-employment, durable household goods, credit, human capital, & informal social capital are shared. It is concluded that both tangible & intangible assets are required for low-income households to achieve financial growth. Several policy recommendations are also offered, eg, permit individuals who receive welfare to establish savings through individual development accounts so that they can purchase needed goods & accumulate assets. 17 References. J. W. Parker