Gateway to Think Tanks
来源类型 | Brief |
规范类型 | 简报 |
What Would Help DC Residents Have Greater Financial Security? | |
Diana Elliott; Caleb Quakenbush | |
发表日期 | 2019-06-13 |
出版年 | 2019 |
语种 | 英语 |
概述 | Washington, DC, is a city of contrasts with respect to residents’ financial security. While some residents are among the country’s most financially secure, others find it hard to make ends meet. High housing costs, unequal opportunity, and economically segregated neighborhoods make it challenging for some residents to feel financially secure and to weather unexpected expenses and emergencies.The |
摘要 | Washington, DC, is a city of contrasts with respect to residents’ financial security. While some residents are among the country’s most financially secure, others find it hard to make ends meet. High housing costs, unequal opportunity, and economically segregated neighborhoods make it challenging for some residents to feel financially secure and to weather unexpected expenses and emergencies. The city has extensive resources to support residents, ranging from policies that protect consumers to city-led programs that assist those in need to deep nonprofit capacity that helps residents improve their financial standing. But even in a city with strong supports for financial health, more can be done. To learn where gaps and opportunities exist in DC’s financial landscape, we spoke with residents about their financial challenges, how they address financial crises, the financial services they like and use most, and what financial service needs are not being met. From this knowledge, better programs can be designed to help residents shore up their financial standing. This brief describes the financial landscape for DC residents and the products and services that would help them most. Additionally, this brief is responsive to the city’s concurrent and ongoing policy and program conversations. For one, the DC government is investigating whether a financial empowerment center—where residents can receive financial counseling—may be needed and for whom. For another, nonprofit and government stakeholders have been discussing small-dollar loan gaps, where residents seek emergency funds, and how best to address such needs. This brief is grounded in these conversations and related questions, explored through six focus groups conducted in October and December 2018 with residents accessing financial programs through various DC nonprofit service providers. We conducted additional stakeholder interviews among leaders working within the DC government and at area nonprofits who work with people with notable financial needs of potential interest for financial empowerment center programming. These people include returning citizens, immigrants, those transitioning off Temporary Assistance for Needy Families (TANF), and those transitioning out of homelessness. The findings reveal the financial service needs that programs are not meeting and potential avenues to better help DC residents move toward greater security. Key findings include the following:
Many residents could be served well by a financial empowerment center. This includes returning citizens, people transitioning off government assistance and housing programs, and immigrants. Financial counseling and coaching, loan products, and programs that target debt management and housing expenses could offer benefits.
What Do Washington DC Residents Need to Improve Their Financial Security (Fact Sheet) |
主题 | Income and Wealth ; Neighborhoods, Cities, and Metros ; Poverty, Vulnerability, and the Safety Net ; Race and Ethnicity ; Families |
URL | https://www.urban.org/research/publication/what-would-help-dc-residents-have-greater-financial-security |
来源智库 | Urban Institute (United States) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/480627 |
推荐引用方式 GB/T 7714 | Diana Elliott,Caleb Quakenbush. What Would Help DC Residents Have Greater Financial Security?. 2019. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
what_would_help_dc_r(810KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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