id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-311829-pkcugj56	Despard, Mathieu R.	Why Do Households Lack Emergency Savings? The Role of Financial Capability	2020-05-19		.txt	text/plain	9066	433	46	Guided by Sherraden (2013) model of financial capability, we expand on prior research that examines the role of financial knowledge by incorporating additional factors and testing income interactions to explain a greater proportion of variance concerning whether or not households have money set aside for emergencies. Concerning having an emergency fund, Sherraden's (2013) model might posit that individuals need to understand the importance of saving for emergencies (financial knowledge), have budgeting and financial planning skills to ensure income can exceed expenses at least periodically to enable deposits (financial skills), and easy access to affordable savings accounts to enable asset accumulation. Three of the four financial capability constructs-subjective financial knowledge, financial confidence, and savings account ownership-are stable and statistically significant predictors of having an emergency fund across all four study years and for all income levels.	./cache/cord-311829-pkcugj56.txt	./txt/cord-311829-pkcugj56.txt