This report seeks to develop a clear picture of the current state of household financial security. It explores the ways three components of family balance sheets--income, expenditures, and wealth--have changed over the past several decades, how they interrelate, and why understanding family finances requires that they be examined together. The study reveals a striking level of financial fragility: Despite the national recovery, many families have experienced minimal wage growth, have few savings, and could not withstand a financial emergency. This reality must begin to change if the American Dream is to remain alive and well for future generations. (Author abstract)
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The Precarious State of Family Balance Sheets.