Assets mean economic security.  Yet impoverished families frequently lack the means to build assets.  Some are even sanctioned by public assistance programs from accumulating the wealth they need to escape poverty.  Oklahoma earned a “C” grade from the Corporation for Enterprise Development in a national report ranking states on opportunities for wealth creation and protection, particularly for low-income residents.  That same report says 23 percent of Oklahoma households are asset poor, lacking sufficient net worth to subsist at the poverty level for three months if their income was disrupted. Read the rest of this entry »

How much does an Oklahoma family have to earn to meet its basic needs? What are the major costs of a family budget, and how do these vary for different family types and in different parts of the state? How much of an impact can work  support programs like food stamps and SoonerCare have in bridging the gap between what families earn and what they need to get by?

The Self-Sufficiency Standard for Oklahoma [3 MB PDF], released last week, provides new data that can help answer these questions and many others. The Standard was developed by Dr. Diana Pearce of the Center for Women’s Welfare at the University of Washington for the Oklahoma Asset Building Coalition. The new report updates the original Oklahoma Self-Sufficiency Standard released in 2002. Over the years, the Standard has been used for a wide range of purposes, including career counseling, workforce development, grant-writing, research, and advocacy. Read the rest of this entry »