Responses to Economic Pressure by Low-Income Families: Financial Distress and Hopefulness

Prawitz, Aimee D.; Kalkowski, Julie; Cohart, Judith

doi:10.1007/s10834-012-9288-1

Cited by 61 publications

(41 citation statements)

References 33 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…For example, given the significant variation we find for both high-and low-income groups, it appears there were winners and losers among both high-and low-income households during the Great Recession. This supports existing arguments that emphasize unequal effects of the recession by industry of employment and other factors (U.S. Bureau of Labor Statistics 2012; Friedline et al 2014;Prawitz et al 2013;Stein et al 2013). Whether due to industry of employment or other reasons, therefore, our results suggest households may experience a recession very differently.…”

Section: Resultssupporting

confidence: 86%

Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession

Rauscher

Elliott

2015

J Fam Econ Iss

View full text Add to dashboard Cite

Building on evidence of increasing inequality with the 2008-9 recession, we ask whether households experienced different financial trajectories through the recession depending on initial income and net worth. Using growth curve models of households headed by young adults in the Panel Study of Income Dynamics, we compare the relationship between initial income and net worth and the rate of change of income and net worth from 1989 to 2011 among households with income above and below $50,000. We find different patterns of income change and different relationships among income, net worth, and their rates of change between high-and low-income categories. Results suggest initial wealth helped to stabilize income and wealth changes among higher income households, reducing financial insecurity.

show abstract

Section: Resultssupporting

confidence: 86%

Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession

Rauscher

Elliott

2015

J Fam Econ Iss

View full text Add to dashboard Cite

show abstract

“…Financially insecure households typically become more careful with money and focus on precautionary savings to mitigate future income loss (Prawitz et al, 2013).…”

Section: Bases For Segmenting Consumers Post-recessionmentioning

confidence: 99%

A typology of consumers based on money attitudes after major recession

Hampson

Grimes

Banister

et al. 2018

Journal of Business Research

View full text Add to dashboard Cite

Since the Great Recession, not all US consumers have felt the financial benefits of the sustained period of macroeconomic expansion. While some research demonstrates renewed consumer confidence and financial security among households, other studies highlight economic vulnerability and higher levels of distress relative to before the 2007/09 crisis. This study examines empirically the heterogeneity of consumers' money attitudes in the post-recession economy. Based on a nationally representative sample of US consumers (n=1202), we identify four post-recession consumer types, distinguished by important attitudinal and behavioral differences: "Flourishing Frugal"; "Comfortable Cautious"; "Financial Middle"; and, "Financially Distressed". While the prior studies offer broad strategic advice, this study indicates that marketers need differentiated strategies to target most effectively and deliver value to different consumer clusters.

show abstract

“…A lack of physical and/or social resources and opportunities associated with socioeconomic adversity combined with a threatening community environment, poor housing, and related physical hazards as well as racial discrimination often lead adolescents to feel trapped, angry, hopeless, and frustrated (Brody et al 2006;Prawitz et al 2013;Ross et al 2000;Wickrama and Bryant 2003). These negative feelings make youth more susceptible to developing emotional and behavioral problems, such as depressive symptoms, substance use, and risky sexual activities (Kerrigan et al 2006;Kogan et al 2010;Wheaton and Clarke 2003).…”

Section: Moderating Effect Of Psychosocial Resourcesmentioning

confidence: 99%

Towards a Heuristic Research Model Linking Early Socioeconomic Adversity and Youth Cumulative Disease Risk: An Integrative Review

2017

View full text Add to dashboard Cite

Responses to Economic Pressure by Low-Income Families: Financial Distress and Hopefulness

Cited by 61 publications

References 33 publications

Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession

Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession

A typology of consumers based on money attitudes after major recession

Towards a Heuristic Research Model Linking Early Socioeconomic Adversity and Youth Cumulative Disease Risk: An Integrative Review

Contact Info

Product

Resources

About