The U.S. Financial Diaries (USFD) is a joint initiative of NYU Wagner’s Financial Access Initiative (FAI) and The Center for Financial Services Innovation (CFSI). Leadership support for USFD is provided by the Ford Foundation and the Citi Foundation, with additional support and guidance from the Omidyar Network.
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A joint initiative of NYU Wagner’s Financial Access Initiative and the Center for Financial Services Innovation, USFD tracked 235 low- and moderate-income households for a full year to collect highly detailed data on how families manage their finances on a day-to-day basis.
By tracking everything the families spent, earned, borrowed, saved, and shared in careful detail, Jonathan Morduch and Rachel Schneider uncovered new insights about the financial lives of Americans that traditional studies have missed. In The Financial Diaries, they introduce us to the stories of these families, challenge conventional wisdom about inequality, financial literacy, and how families manage their money, and recommend ways to design financial services policies, programs, and products to better serve American families.
Morduch and Schneider have dedicated their careers to the finances of low-income families—Morduch as an academic economist and Schneider as a financial services expert. In The Financial Diaries, they reveal:
Sponsorship of digital and event support for USFD is provided by Citi Foundation.