Financial Literacy
Asset Building Goals and Objectives
Goals
Asset building supports strategies which enhance people’s ability to increase their personal and family income and build their asset base. Income, savings, and assets help a family move toward self-sufficiency and economic security by providing a cushion against unexpected changes and problems. Once a family achieves adequate income to provide for necessities and allow for savings, they can begin to pay off debt, establish credit, secure a home mortgage and insurance, and plan for children’s education and their own retirement.
Assets can make a significant difference to a low-income family, whether they are intellectual assets such as an education or training, physical assets such as a home or automobile. Examples of asset building strategies are individual retirement accounts and homeownership. |
