Relationship Between Poverty and Ability to Borrow from Friends and Family

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Live Poster Session: https://wesleyan.zoom.us/j/8845336295

Jackson Belden
Jackson Belden

I am a Sophomore at Wesleyan University working towards the Anthropology major and the Certificate in Applied Data Science. I am originally from Portland, Oregon, where I grew a love of nature, strategy games, and political action which has stuck with me to today. I hope to combine those passions with data science and writing in a future career.

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Abstract: While there is a significant amount of research pointing to the association between poverty and social outcomes there is not a body of research investigating the relationship between poverty and the social outcome of ability to borrow from friends and family. Using the Consumer Financial Protection Bureau’s National Financial Well-Being Survey I find a significant negative association between material hardship suffered (a poverty indicator) and ability to borrow. This relationship is confounded by an individuals background, as education of one’s parents has a significant positive relationship with ability to borrow. This points us towards individual suffering material hardships as a group which could be targeted for aid or loans, as they are less likely to be able to use social networks for aid, however other factors, including background, must be included in the equation.

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