Deep within the American Dream lies the belief that hard work and steady saving will ensure a comfortable retirement and a better life for one's children. But in a nation experiencing unprecedented prosperity, even for many families who seem to be doing everything right, this ideal is still out...

Frontmatter -- Contents -- Acknowledgments -- Introduction. A Hidden Inequality -- Worlds of Uncertainty -- Chapter 1. Earning -- Chapter 2. Spending -- Chapter 3. Smoothing and Spiking -- How Families Cope -- Chapter 4. Saving -- Chapter 5. Borrowing -- Chapter 6. Sharing -- New Ways of Seeing...

The US Financial Diaries track the daily finances of low and moderate-income households over a year. The households faced substantial swings in income from month to month. On average, they experienced 2.7 months when income fell more than 25 percent below average, and 2.7 months when income was...