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January 2009
Prepared for:
Assistant Secretary for Planning and Evaluation
(ASPE)
U.S. Department of Health and Human Services
(HHS)
This project is available on the Internet at:
http://aspe.hhs.gov/hsp/09/FinancialStability/index.shtml
Financial decisions, behaviors, and practices take place within a social and family context. Financial stability strongly interacts with family relationships. Recent changes in the housing and credit markets have led to increased recognition that developing comprehensive family-based money and credit strategies is critical in the short-term to weather financial storms, but also for the long-term financial health of families and their children. Each area can strengthen or challenge the other, however.
Financial hardship and instability can foster conflict and seriously impact the stability of a couple’s relationship as well as their finances, especially when there are no rainy-day funds and little knowledge of where to turn for help. On the other hand, strong relationships and familial support can act as a buffer during financial hardship. Over the past decade a range of federal and local efforts have emerged that are dedicated to strengthening families and marriage, building financial literacy skills, and helping low-income families develop assets.
In 2006, ASPE contracted with RTI International to convene a Roundtable meeting of a diverse group of experts with research, policy, and practice experience in marriage education, financial literacy, and/or asset development. The meeting provided an opportunity to exchange knowledge and explore collaboration across the fields. A summary of the proceedings is available below.
The Roundtable also led to the development of two issue briefs designed to introduce the fields to each other, explore how these issues interact in the lives of families, and begin to explore opportunities for collaboration. The briefs focus on romantic couple relationships and marriage; however, sharing financial resources can also bring benefits and challenges for co-parents, extended families, and even between parents and children. The briefs are available below.
Project publications:
"Relationship Finance Summit - Theory and Practice" [webcast of the
meeting]
Departments of the Treasury and Health and Human Services
Wednesday, January 14, 2009
Designed to advance developments in the field of relationship finance, this
unique conference offers theory and practice advancing family financial
education. The first session features speakers presenting theory behind decision
making models/dynamics within couples with respect to money decisions. The
second session offers perspectives from counseling and financial service
practitioners. Topics range from the dynamics of intergender differences
to real estate purchases to military financial counseling perspectives. The
webcast is at
http://ncmr.bgsu.edu/data/workshopmaterials.html
scroll down the page.
The Department of Health and Human Services (HHS) is interested in knowing whether readers of these publications found them useful and how they have informed your work and interests on this topic. You are invited to include comments on how you found out about the publication and whether it contributed to considerations concerning policy implementation. Please email your comments to pic@hhs.gov and include the title of the publication in the subject line of your email.
If you want a printed copy of any of these reports, send the full title and your contact information to pic@hhs.gov.
Home Pages:
Human Services Policy
(HSP)
Assistant Secretary for Planning and Evaluation
(ASPE)
U.S. Department of Health and Human Services
(HHS)
Last updated: 02/27/2009