The recent release of the scorecard indicates that 20.9% of Virginia Families are asset poor, meaning that they do not have sufficient assets to sustain a three month loss of income. For single parent households 54.34% are asset-poor.
More astonishing is that if you remove illiquid assets like homes, vehicles and businesses, 35.9% of all Virginians and 82.57% of single parent households are liquid asset poor.
Without savings, a large number of Virginians do not have the resources to sustain them in times of financial stress.
For more click here (courtesy Corporation for Enterprise Development/CFED)
Courtesy of Lori Irwin, Financial Empowerment Program Coordinator at Virginia Beach Department of Human Services
Showing posts with label Assets and Opportunity Scorecard. Show all posts
Showing posts with label Assets and Opportunity Scorecard. Show all posts
Subscribe to:
Posts (Atom)