Saving and asset building in low income households

Having a store of ‘rainy day money’ can increase a low-income family’s resilience and enable it to cope better with an unexpected shock, such as the breakdown of a washing machine or even the loss of a job. Storing up assets can increase opportunities, by, for example, providing the funds to support children when they go to university or to pay for training. But most low-income families find it very difficult to save, other than for specific events already on the horizon.

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