GOALS FOR THE COMMON GOOD
INCOME: Promoting Financial Stability
National Goal by 2018,
Cut by half the number of lower-income families that lack financial stability – requires strategies to help people increase income, save and grow long-term assets.
1. Achieving greater financial stability
Indicator: Percentage of lower-income working families* who spend more than 30 percent of their monthly income on housing
2. Gaining and sustaining assets
Indicator: Home ownership rate for lower-income working families
3. Building savings
Indicator: Percentage of lower-income working families who have a minimum of $300 in their checking or savings account
* Working families have one (or two) parents working 50 or more weeks (combined) during the previous year. Lower Income means that the family income was less than 250% of the federal poverty level.