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3. Increased financial capability

FS-Ind. 3.4: % of Story County households without sufficient liquid assets to subsist at the poverty level for three months in the absence of income

Current Value

24.0%

FY 2022

Definition

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Story Behind the Curve

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%).

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Strategy

Clear Impact Suite is an easy-to-use, web-based software platform that helps your staff collaborate with external stakeholders and community partners by utilizing the combination of data collection, performance reporting, and program planning.

Scorecard Container Measure Action Actual Value Target Value Tag S A m/d/yy m/d/yyyy