Stabilizing and maximizing income is a critical step toward financial security and economic opportunity. Without sufficient income, families do not have the wherewithal to meet basic needs, let alone save for the future. For many low-wage workers, however, employment can be unstable and earnings unpredictable. Wages for jobs that are available to those without post-secondary education have stagnated over the past several decades. As a result, many are forced to incur debt just to finance basic needs.
Champions of asset building and financial empowerment are utilizing technology, creating new and leveraging existing physical access points, and launching public awareness campaigns to connect residents to the full range of benefits, work supports and tax credits for which they are eligible.