2014 Assets Learning Conference

Plenary 2: Defining and Measuring the Financial Well-Being of U.S. Households

Wednesday, September 17th, 2014
12-1:30 PM

Room: Marquis Ballroom

This plenary will showcase two groundbreaking consumer financial research initiatives that will inform and guide the next generation of asset-building and financial capability strategies in this country. The first study is the Consumer Financial Protection Bureau’s (CFPB) Financial Well-Being Measurement Project, a foundational research project grounded in direct consumer experience. Under contract to the CFPB, CFED is leading this multi-phased project which entails developing a definition of individual financial well-being; hypotheses about the types of knowledge, skills and behaviors that contribute to individual financial well-being; and measurement tools for these concepts. The second study is the U.S. Financial Diaries project (USFD). Funded by Citi and the Ford Foundation, USFD is a joint research project of New York University’s Financial Access Initiative, The Center for Financial Services Innovation and Bankable Frontier Associates. The project tracked more than 200 low- and moderate-income households over the course of a year and collected highly detailed data on household financial activity.

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