The Center for Hunger-Free Communities

Solutions Based on Science and the Human Experience

“My daughter has a lot of disabilities … I’m trying to get used to a lot of things with her. She’s three. She has adrenal insufficiency, hypothyroidism, she’s a diabetic, and she also has lack of a growth hormone. Within the last three months she’s been placed on about seven different medications. This is her growth hormone medication and it comes in this. It’s four hundred and fifty dollars and I have to get it delivered every three weeks. I don’t have four hundred and fifty dollars. We’re trying to get the insurance to completely cover everything, but this medication is not covered now. Without her medicine, how will she get better?”

Asset Building

Asset building seeks to empower low-income households to acquire assets, such as a home, a business, an education, and savings for retirement and other life goals.  Asset building promotes financial empowerment and the building up of assets through both policy and program initiatives.  Research has demonstrated that parental financial assets, such as household savings, are positively associated with the cognitive development of school-aged children.

Current Issue

One promising asset-building strategy offers Individual Development Accounts (IDAs) or Child Development Accounts (CDAs) that provide matching funds to help families save for the future.  Philadelphia should follow the lead of San Francisco by offering CDAs to all public school kindergarten students.  See here for more information.

 

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