Study: Many Va. families lack enough cash
A University of Virginia study shows a significant number of households across the state lack enough income and cash assets to cover basic needs and unplanned expenses.
The Weldon Cooper Center for Public Service study also shows the federal poverty level inadequately measures how much it costs to be economically self-sufficient.
The study says that statewide, the average two-adult, two-child family needs about $44,000, or twice the federal poverty level, to pay for housing, food, child care and other monthly expenses. The study shows that 24.2 percent of Virginians earn below that level.
Researchers found that about 28 percent of Virginia's households lack enough cash, stocks or other assets to cover short-term emergency expenses.
Posted by: MarilynManson | March 1, 2011 12:33 PM | Report abuse