Could you use an additional $500 toward your savings goal?
The Corporation for Enterprise Development (CFED) works nationally to expand economic opportunities through IDA program development, research and public policy.
CFED is inviting savers to share their summer saving goal through submitting a photo and a 100 word description of their future purchase. Those that enter must answer the following question: Why are you saving for this item and why do you consider it an asset? Entries will be judged based on composition, originality and overall appeal at an upcoming conference in September. First, second and third place will receive gift cards to use toward their saving goal. (Note: These prizes would not be eligible for matching in the PIE program, but would be an additional source of funding for your saving goal.)
One area of research that CFED provides on a yearly basis is the Assets and Opportunity Scorecard for the 50 states and the District of Columbia. It assesses how well residents are faring in terms of wealth, poverty and financial security and what states can do to help residents build and protect assets.
The 2012 Assets & Opportunity Scorecard shows that Colorado came in 23rd. 29% of Coloradans are asset poor, meaning that they lack the financial resources – money in the bank, assets in a home or
car – to weather a job loss or other emergency. Still more troubling, the Scorecard shows that 42% of Coloradans are liquid asset poor. Liquid asset poverty is a more realistic picture of the resources families have to meet emergency needs since it excludes assets such as a home, car or business that are not easily converted to cash.
For additional information on the Colorado Scorecard: Download Assets & Opportunity Scorecard - Colorado 2012
For more information about the Asset & Opportunity Scorecard visit the National Asset & Opportunity Scorecard Website.
About CFED
CFED
(Corporation for Enterprise Development) expands economic opportunity by helping Americans start and grow businesses, go to college, own a home and save for their children’s and own economic futures. CFED identifies promising ideas, test and refine them in communities to find out what works, craft policies and products to help good ideas reach scale, and develop partnerships to promote lasting change. We bring together community practice, public policy and private markets in new and effective ways to achieve greater economic impact.
Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and internationally through its offices in Washington, DC; Durham, North Carolina; and San Francisco, California.
For more information, visit www.cfed.org
