Building Wealth in Lower-Income Communities: Follow-Up
Great examples of families, organizations, and communities at work!
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In December, some great examples of how organizations are assisting families and communities build wealth were presented at a Strategies Forum called "Working Together to Build Wealth in Lower-Income Communities." (See previous blog) I wanted to highlight just a few of many insightful presentations.
- First, Stephan Meier from the Federal Reserve Bank debunked a stereotype around credit and debt. Among other findings, he offered that the difficulty of delaying instantaneous gratification is a human condition, and NOT conditional on income (think in terms of eating healthy!).
- Marissa Guananja at Chelsea Neighborhood Developers and Joe Diamond from MASSCAP highlighted their programs, statewide and local, that weave together many foundations for building financial stability of families.
- Finally, I highlighted the Financial Stability Partnership out of United Way of America and one example of how our local United Way is offering an online toolkit for providers of financial stability programs, particularly financial education (www.financialedtoolkit.org).
A Forum outline with links to these and other powerpoint presentations can be found at here.
I never would have thought
I never would have thought about the capacity to delay gratification as being attributed to people with little money until I read the quote from the Fed official. But he's right, thinking of those struggling financially as fundamentally different, makes it easier to avert our eyes and not see their lot as directly connected to our own. Thank you for highlighting that comment.
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