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:
If you were hoping that the faiV would be a pleasant distraction from the overwhelming flow of AI-related content, sorry. For the record, the faiV had “ai” built in before Anthropic existed. And a housekeeping note: we’ve finally jumped ship from Mailchimp to NYU’s mailing platform—I guess if you’re reading this it’s been a seamless transition and if you’re not, well, you’re not. Feedback on the faiV’s content and format and delivery methods is always welcome, just drop me an email.
- Tim Ogden