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Low-income residents in New Mexico now have more incentive than ever to save for a home, an education or their own business. In the 2006 legislative session, the state provided $1.5 million to fund the Individual Development Account Act that passed in 2003.
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Leigh Tivol, senior program manager with the Corporation for Enterprise Development (CFED) in Washington, D.C., presented the national perspective on the asset-building movement at the RAISE Texas Action Summit in April.>
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Building and maintaining financial security is increasingly difficult for a growing portion of American households. Wealth is less prevalent in middle-class households and increasing among the already well-to-do. At the same time, poverty is growing and concentrating disproportionately among the...
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The steep drop in the U.S. personal saving rate over the last decade has fueled speculation that Americans are spending … recklessly. But alternative measures of personal saving show that households are actually setting aside a larger share of their … overall domestic saving that has helped finance a surge in U.S. investment. …
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