EPIC targets one consequential consumer finance issue at a time to investigate in depth.

The Issues

|

Jacob Hacker | Yale Institution for Social and Policy Studies

“What we need doesn’t exist yet – policies that provide broad stop-loss protection against catastrophic costs for medical care, long-term care, temporary disability, and other defined risks.”

The Issues

● Current Issue

🔗 THE ISSUE

Our interest in this topic stems from our work on income volatility. During our 18-month cycle with income volatility, we learned that individuals and families use an ad hoc patchwork of strategies to manage dips in income and spikes in expenses, including a heavy reliance on borrowing. Households rely on credit to get by, often because savings are insufficient or have been depleted. For low-income families, the combination of income and expense volatility and limited access to credit can create serious challenges to their ability to make ends meet without becoming mired in expensive debt, creating a new burden that stretches their budgets even thinner.

● Past Issue

🔗 THE ISSUE

A growing body of research shows that month-to-month income fluctuates wildly for low-and moderate-income Americans. This unpredictable income significantly impacts the financial lives of these individuals making it hard for them to meet monthly expenses, save, pay down debt, qualify for a loan, or handle a major unexpected expense.

EPIC
INCOME VOLATILITY|CONSUMER DEBT

Income volatility is not a discrete, boutique problem. It's a new normal for American households.

POLICY MAKERS

Government Officials
Advocates

RESEARCHERS

Academics
Think Tanks
GET INVOLVED

JOIN OUR NETWORK

Policy Makers Researchers FinTech Leaders
GET INVOLVED

FINTECH LEADERS

Entrepreneurs
Nonprofit Innovators
We’re always looking to expand our network. Join our mailing list to stay in the loop with everything we’re working on.
EPIC is an initiative of the Aspen Institute's Financial Security Program.

The Aspen Institute:

Financial Security Program:

CONTACT US:

The Aspen Institute

Financial Security Program 1 Dupont Circle, NW Suite 700 Washington, DC 20036
Financial Security Program  |   The Aspen Institute  |  1 Dupont Circle, NW; Suite 700; Washington, DC 20036
  • Twitter
  • YouTube
  • E-Mail
  • Phone
  • Directions

Privacy Policy   |   Legal

© The Aspen Institute 2017—All Rights Reserved

Privacy Policy   |   Legal

Share This