Why this matters? “Liquid asset poverty is a measure of the liquid savings households hold to cover basic expenses for three months if they experienced a sudden job loss, a medical emergency or another financial crisis leading to a loss of stable income. Having savings can help families better weather an economic setback. Furthermore, it can ensure that a household will not lose key wealth building vehicles, such as a home or business, during a financial setback, which could possibly threaten the household’s long-term financial well-being. Research has found that households with assets are much less likely to suffer serious hardships in the event of an economic emergency. “

It is worth noting that households in Story County fair worse than the state average in Iowa (ex/ in 2021, 34.8% vs. 27.4%).