Got Liquid Assets?
April is Financial Literacy Month. Did you know that according to CFED nearly half of households in the U.S. do not have a basic safety net to weather emergencies? Households of color face greater disparities, with nearly 61% of households classified as asset poor compared to just 35% of white households. Liquid asset poverty measures the minimum amount of liquid savings (i.e., cash, retirement savings, checking account, etc.) a household would need to get by at the poverty level in the event that an emergency left them without income.
Here’s what we’re doing today:
Use this calculator to determine how much in liquid savings your household would need to avoid falling into liquid asset poverty. Share what you learn with us on social media using #our100days.
Sample Tweet:
Could you weather a financial crisis? Find out with this great calculator courtesy of @cfed bit.ly/1BM9PoX #our100days