Education Policy Commons^™

Assessing The Short-Term Stability Of Financial Well-Being In Low- To Moderate-Income Households, Sicong Sun, Stephen P. Roll, Olga Kondratjeva, Sam Bufe, Michal Grinstein-Weiss

Social Policy Institute Research

A growing body of research demonstrates that U.S. households experience a high degree of volatility in their finances. This volatility can take the form of large swings in month-to-month income, spells of unemployment, and incurring unexpected expenses.1 Beyond being difficult to predict, these income and expense shocks are costly as well, with one survey finding that the most expensive shock experienced by the median U.S. household cost roughly half of one month’s income.2This financial volatility disproportionately affects low- to moderate-income (LMI) households;3 a population that often lacks the resources to manage this volatility. For example, research from the Survey of …

How Do Changing Financial Circumstances Relate To Financial Well-Being? Evidence From A National Survey, Sam Bufe, Stephen P. Roll, Olga Kondratjeva, Michal Grinstein-Weiss

Social Policy Institute Research

This brief is the third and final brief in a series exploring the financial well-being of low- and moderate-income (LMI) households in the United States. The first brief in this series explored how financial well-being differed between LMI households and the general population. The second in the series examined how financial well-being changed over time in a sample of LMI respondents. This brief uses longitudinal survey data paired with administrative tax data to assess how different household experiences—including the use of alternative financial services, the experience of material and medical hardship, and improvements in physical and financial health—correspond to the …

How Do Changing Financial Circumstances Relate To Financial Well-Being? Evidence From A National Survey, Sam Bufe, Sicong Sun, Stephen P. Roll, Olga Kondratjeva, Michal Grinstein-Weiss

Social Policy Institute Research

This brief is the third and final brief in a series exploring the financial well-being of low- and moderate-income (LMI) households in the United States. The first brief in this series explored how financial well-being differed between LMI households and the general population.¹ The second in the series examined how financial well-being changed over time in a sample of LMI respondents.² This brief uses longitudinal survey data paired with administrative tax data to assess how different household experiences—including the use of alternative financial services, the experience of material and medical hardship, and improvements in physical and financial health—correspond …

Dependent Care Fsas: Policy Proposals To Level The Playing Field For Low- To Moderate-Income Parents, Ellen Frank-Miller, Sophia Fox-Dichter, Sloane Wolter

Social Policy Institute Research

This research was funded by the Annie E. Casey Foundation. We thank them for their support but acknowl-edge that the findings and conclusions presented in this report are those of the authors alone, and do not necessarily reflect the opinions of the Foundation.The authors are grateful to Don Baylor at the Annie E. Casey Foundation for his guidance and support throughout the project. We are also grateful to Elaine Maag at the Urban Institute for offering her expertise related to interactions between the Earned Income Tax Credit and dependent care flexible spending ac-counts. Finally, we extend our sincere thanks to …

Making Dependent Care Fsaa Work For Low- To Moderate-Income Families 5 Action Steps For Employers, Sophia Fox-Dichter, Ellen Frank-Miller, Sloane Wolter

Social Policy Institute Research

Dependent Care Flexible Spending Accounts (DCFSAs) can help workers save money on child care expenses by using pre-tax dollars, but few employees actually use the accounts, particularly low- to moderate-income (LMI) employees, because:

• DCFSAs are difficult to understand; figuring out if they are possible to use and worth the trouble is a complex task for families.

• Families face a “double-hit” if they use the accounts – they have to set aside pre-tax dollars for child care expenses and then pay out-of-pocket before getting reimbursed.

• Using a DCFSA may require certainty about a year’s worth of child care …

Employer-Sponsored Small-Dollar Loans: An Assessment Of Take-Up, Engagement, And Outcomes, Ellen G. Frank-Miller Phd, Sophia Fox-Dichter Msw, Sloane Wolter Ab, Jenna Hampton Bsw, Mathieu Despard Phd, Msw, Geraldine Germain Msw

Social Policy Institute Research

Employees financial wellness program (EFWPs) are gaining in popularity as a strategy to address workers' financial challenges and goals beyond offering health and retirement benefits. Most workers say they are stressed about their finances¹ and a third are less productive at work because of this stress.² Although employers are increasingly interested in offering EFWPs, little research has been conducted concerning these workplace financial products and services.

Dependent Care Fsas: The Uneven Playing Field For Employers And Workers, Ellen Frank-Miller, Sophia Fox-Dichter, Sloane Wolter

Social Policy Institute Research

This research was funded by the Annie E. Casey Foundation. We thank them for their support but acknowl-edge that the findings and conclusions presented in this report are those of the authors alone, and do not necessarily reflect the opinions of the Foundation.The authors are grateful to Don Baylor at the Annie E. Casey Foundation for his guidance and support throughout the project. We extend our thanks to Elaine Maag at the Urban Institute for offering her expertise related to interactions between the Earned Income Tax Credit and dependent care flexible spending ac-counts.In this two-part series, we provide a field …

Financial Counseling For Low- And Moderate-Income Employees: An Assessment Of Engagement And Outcomes, Mathieu Despard Phd, Msw, Yingying Zeng Msw, Msp, Sophia Fox-Dichter Msw

Social Policy Institute Research

Employee financial wellness programs (EFWPs) are gaining in popularity as a strategy to address workers' financial challenges and goals beyond offering health and retirement benefits. Most workers say they are stressed about their finances¹ and a third are less productive at work because of this stress.² Although employers are increasingly interested in offering EFWPs, little research has been conducted concerning these workplace financial products and services.

Financial Counseling For Low- And Moderate-Income Home Health Care Employees: An Assessment Of Take-Up, Engagement, And Outcomes, Ellen G. Frank-Miller Phd, Sophia R. Fox-Dichter Msw, Sloane Wolter Ab, Jenna Hampton Bsw

Social Policy Institute Research

Employee financial wellness programs (EFWPs) are gaining in popularity as a strategy to address workers' financial challenges and goals beyond offering health and retirement benefits. Most workers say they are stressed about their finances¹ and a third are less productive at work because of this stress.² Although employers are increasingly interested in offering EFWPs, little research has been conducted concerning these workplace financial products and services.

Dependent Care Fsas Work For Low- To Moderate-Income Families: 5 Action Steps For Policymakers, Sophia Fox-Dichter, Ellen Frank-Miller, Sloane Wolter

Social Policy Institute Research

Dependent Care Flexible Spending Accounts (DCFSAs) can help workers save money on child care expenses by using pre-tax dollars, but few employees actually use the accounts, particularly low- to moderate-income (LMI) employees, because:

• DCFSAs are difficult to understand; figuring out if they are possible to use and worth the trouble is a complex task for families.

• Families face a “double-hit” if they use the accounts – they have to set aside pre-tax dollars for child care expenses and then pay out-of-pocket before getting reimbursed.

• Using a DCFSA may require certainty about a year’s worth of child care …

Credit-Building Services For Employees: An Assessment Of Engagement And Outcomes, Yingying Zeng Msw, Msp, Mathieu Despard Phd, Msw

Social Policy Institute Research

Employee financial wellness programs (EFWPs) are gaining in popularity as a strategy to address workers' financial challenges and goals beyond offering health and retirement benefits. Most workers say they are stressed about their finances¹ and a third are less productive at work because of this stress.² Although employers are increasingly interested in offering EFWPs, little research has been conducted concerning these workplace financial products and services.

Workplace Credit-Building Counseling At A Midwest Employer: An Assessment Of Take-Up, Engagement, And Outcomes, Ellen G. Frank-Miller Phd, Sophia Fox-Dichter Msw, Sloane Wolter Ab, Jenna Hampton Bsw, Yingying Zeng Msw, Msp

Social Policy Institute Research

Employee financial wellness programs (EFWPs) are gaining in popularity as a strategy to address workers' financial challenges and goals beyond offering health and retirement benefits. Most workers say they are stressed about their finances¹ and a third are less productive at work because of this stress.² Although employers are increasingly interested in offering EFWPs, little research has been conducted concerning these workplace financial products and services.