Our Coalition is building awareness about Asset Poverty and the major impact it has on individuals, families, and our local community.
We promote and support coordinated strategies that everyone can work on together to build asset wealth for a more resilient Forsyth County.

Households Experiencing Asset Poverty
in Forsyth County, 2014

  • White, non-Hispanic Households 18.7% 18.7%
  • Households of Color 44.5% 44.5%
  • African American Households 45.8% 45.8%
  • Hispanic/Latino Households 46.3% 46.3%

Did you know? 

Almost half of households of color in Forsyth County cannot afford to cover basic expenses such as housing, transportation, or childcare.

DATA SOURCE: PROSPERITY NOW ESTIMATES USING SIPP AND ACS, 2014

Our Coalition is committed to identifying, disrupting, and dismantling
the underlying community conditions responsible for these disparities.

Those who don’t have three months’ household living expenses set aside are experiencing a condition called asset poverty.

Asset Poverty

Asset Poverty is when an individual or family lacks the savings to cover basic expenses (at federal poverty level) for three months if their income is interrupted.

Does your household have enough savings to meet your basic needs for three months?
Basic needs include things like housing, utilities, food, transportation, and childcare.
YES

That’s good news! Did you know that 39% of households in Forsyth County do not have three months of resources set aside? This is called Asset Poverty and it has a big impact on our community overall.

LEARN ABOUT THE COMMUNITY IMPACT

NO

You’ve taken an important step in understanding your household’s financial situation. Building a plan to set aside money is a great next step, and will help a lot if something unexpected happens, like a job loss or health crisis.

LET’S GET STARTED BUILDING A PLAN!

I DON'T KNOW...

Understanding your household’s financial situation is the first step in being prepared for an unexpected life event like a job loss or health emergency.

TAKE THE FIRST STEP NOW

Asset Poverty has a big impact on Forsyth County.

DATA SOURCE: PROSPERITY NOW ESTIMATES USING SIPP AND ACS, 2014

 

  • Households in Winston-Salem Experiencing Asset Poverty 39% 39%
  • Forsyth County Households Living in Extreme Asset Poverty 22% 22%
  • Forsyth County Residents with Sub-prime Credit Scores 56% 56%
  • Renters in Winston-Salem Experiencing Housing Cost Burden 49% 49%
  • Low-Income Winston-Salem Residents who are Uninsured 35% 35%
  • Forsyth County Single-Parent Households in Asset Poverty 60% 60%

Our community benefits when we all build assets and save.

What role can you play?

 

EMPLOYERS

Asset poverty has a big impact on our community’s overall wellbeing and competitiveness. It can also have a negative impact on the lives of your employees and, potentially, your business through increased absenteeism and higher turnover.

LEARN MORE ABOUT WHAT EMPLOYERS CAN DO.

FINANCIAL EDUCATORS

The Asset Building Coalition is here to provide support for financial educators in Forsyth County.

LEARN MORE ABOUT HOW WE WORK WITH FINANCIAL EDUCATORS

GOVERNMENT

Many in our community are just one or two paychecks away from losing financial stability. This state has a major impact on our residents’ quality of life, and has a cumulative negative impact on our community as a whole.

LEARN MORE ABOUT THE ROLE LOCAL GOVERNMENT CAN PLAY

NONPROFITS

Those experiencing asset poverty are at a higher risk of facing a major life disruption or crisis associated with certain unexpected expenses.

LEARN MORE ABOUT HOW NONPROFITS CAN HELP

Asset Building strategies help people gain and manage financial means. Benefits of Asset Building include:

Provides a safety net in times of financial crisis such as job loss or a health emergency.

Can help prevent
long-term financial hardships
such as foreclosure or bankruptcy.

Provides financial stability and economic opportunity.

Enables key, long-term investments, such as buying a home, starting a business or pursuing further education and training.

Featured Initiatives

We champion strategic initiatives in Winston-Salem and Forsyth County that encourage asset-building behaviors and activities designed to help individuals, families, and the community overall become more resilient to asset poverty.

Our Coalition is 27 Members Strong, and Growing.

Atkinson
Collaborative Enterprise

Pivot Ministries

The CARes Project

Individual Members

Karl F. Yena, Nonprofit Consultant

Matthew Hynek, Edward Jones