Spotlight On: Liquid Assets, Financial Shocks, and Entrances into Material Hardship
This report uses Poverty Tracker data to examine whether liquid assets guard New Yorkers from sliding into hardship after experiencing a financial shock. The findings show that roughly $2,000 in liquid assets appear to buffer against added hardships after such a shock, but not all New Yorkers have access to such financial reserves.
On the Precipice: An Analysis of the Vulnerability of New Yorkers to Financial Shocks
When measuring one’s financial security by whether a respondent has the ability to pay for an unanticipated financial shock, a sizable share of New Yorkers and Americans are living on a financial ledge—one emergency away from not being able to make ends meet.