{"id":6408,"date":"2023-05-09T18:00:11","date_gmt":"2023-05-09T22:00:11","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/working-hard-and-saving-pennies-isnt-enough-to-close-wealth-gap-report-says\/"},"modified":"2023-05-09T18:00:11","modified_gmt":"2023-05-09T22:00:11","slug":"working-hard-and-saving-pennies-isnt-enough-to-close-wealth-gap-report-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=6408","title":{"rendered":"‘Working hard and saving pennies’ isn\u2019t\u00a0enough to close wealth gap, report says\u00a0"},"content":{"rendered":"
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Financial-literacy programs and efforts to promote savings strategies among low-income families may be helpful, but they\u2019re not enough to substantially chip away at racial wealth inequality in the U.S., researchers said in a new report this week.\u00a0<\/p>\n

White families\u2019 median wealth was $188,200 in 2019, according to Federal Reserve data, compared to Black families\u2019 median wealth of $24,100. Such gaps were \u201ccreated and maintained through policies and practice\u201d like redlining, which were \u201cdesigned to restrain some groups from the…\n <\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Financial-literacy programs and efforts to promote savings strategies among low-income families may be helpful, but they\u2019re not enough to substantially chip away at racial wealth inequality in the U.S., researchers said in a new report this week.\u00a0 White families\u2019 median wealth was $188,200 in 2019, according to Federal Reserve data, compared to Black families\u2019 median […]<\/p>\n","protected":false},"author":1,"featured_media":6409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-6408","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"\n'Working hard and saving pennies' isn\u2019t\u00a0enough to close wealth gap, report says\u00a0 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Financial-literacy programs and efforts to 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