Today, The New York Times featured research from the U.S. Financial Diaries as well as other sources to explore the issue of income volatility and how it is affecting the financial lives of Americans. The complete article is available here.
For millions of Americans, including USFD households, income fluctuates monthly, weekly, and seasonally. In fact, 61% of the time (for those in the study), there is a mismatch between spending needs and income flows. According to principal investigator Jonathan Morduch, “This is a hidden inequality that often gets lost.”
For more on income inequality, read our recent issue brief and learn more about our households.
Editor’s Note: I’m going to assume that you are seeing plenty of AI content (news and papers, not AI slop, though I’m sure you’re getting plenty of that too) from other sources, so I’m trying to think hard about the marginal value that the faiV can provide. As far as I’ve gotten so far: a) make sure that directly AI-related content does not take up more than 2 of the 5 items, and b) try to focus specifically on the cybersecurity issue for financial inclusion. Beyond that, I’m open to feedback on the value you get from the faiV in relation to AI to help guide us in the future. On a different note, I’ll be making a brief cameo appearance at the e-MFP Inclusive Finance Conference to moderate the opening plenary. If you haven’t registered, do so and I hope to see you there! - Tim Ogden