Economic security requires new measures of well-being

UB researcher says personal savings, policy change are needed to achieve goals, economic stability

University at Buffalo

BUFFALO, N.Y. - Economic well-being for low-income families in the U.S. is often determined by federal measures that establish basic requirements for essentials such as food, shelter and clothing, but a new study by a University at Buffalo research team suggests that such a definition is unrealistically narrow.

To help families move out of poverty, the existing perspective of economic well-being and its short-term focus on basic needs should reflect possibilities for long-term stability, including a savings plan, rather than day-to-day survival, says Yunju Nam, an associate professor in the UB School of Social Work.