In our ongoing series “Your Money, Your Life,” Need to Know takes an in-depth look at the difficult spending decisions facing the nation’s working poor.
This week’s episode profiles one Newark, N.J. family, who keeps a monthly financial diary detailing its expenditures, including the additional costs incurred by living in a poor neighborhood and by not using available banking services.
Anchor Ray Suarez interviews Rachel Schneider, Vice President at the Center for Financial Services Innovation and a lead investigator for the U.S. Financial Diaries Project.
The “American Voices” essay is by Mae Watson Grote, founder and executive director of the Financial Clinic, which services the working poor.
What’s on this week: