Family Economic Supports
Low-income families are vulnerable to more than just downturns in the national and regional economy. They struggle to make their meager earnings stretch to meet basic expenses, and usually have little or no savings to serve as a safety net. Their fragile economic progress can quickly be derailed by a job loss, unexpected expenses, or illness. They are vulnerable to overpriced financial services, such as high-cost loans, insurance and home mortgages. They often are charged high rates for check cashing, consumer credit, money orders and tax preparation. Disconnection from mainstream financial institutions has left many families prey to wealth-stripping practices and deeply in debt, preventing them from accessing loans for education, training and homeownership and making it impossible for them to save and build for the future.
In addition, the public benefits that can help eligible families to fill the gap between their earnings and their expenses—such as child care, food stamps and the State Children’s Health Insurance Program (SCHIP)—are often difficult to access, and many families remain unaware of their eligibility for the substantial benefits provided by the Earned Income Tax Credit (EITC), child tax credit, and free tax assistance.
The Casey Foundation seeks to help low-income families access the economic supports necessary to establish credit, resolve past credit problems, reduce debt, learn more about financial budgeting and increase their financial security by saving and investing.
Learn More
- EITC/Free Tax Assistance - By raising awareness of the EITC and increasing the use of tax credits, the Casey Foundation and other nonprofit organizations are helping more low-income families achieve economic stability and enter the financial mainstream.
- Find resources on Family Economic Supports in the Casey Foundation's Knowledge Center.