Economic Well-Being Of Children

625 Words3 Pages
In this relationship study of the structures family, and the economic well- being of families with children we are given a tremendous insight into what it is to live on limited funds while raising a family, examine the ways in which finances are handled in various forms of family structures, and the effects of the distribution of funds within the family. The author, Lingxi Hao uses various examples and research to show how the financial well-being of a child can affect their future and how development can be hindered, or worse due to poor financial situations. With his focus on the young families, the author points out how the economic well-being of children has decreased tremendously over the years, causing severe hardships for the modern low income families today. Many children are raised in poverty levels and do not have the same advantages as those from wealthier families.…show more content…
Hao explains how when there is little money, children have a severe disadvantage in health, cognitive, social-development and low socioeconomic gains in adulthood. He points out the importance of family structure with his major focus being on the economic standards for nontraditional households, such as those with female heads of the family being less financially secured whereas a couple can provide better for a child together. This paper has three major objectives. “First, it characterizes economic well-being in terms of wealth for families of children 18 years old and under among intact, step, cohabiting, lone-mother, and lone-father families. Second, it describes the patterns of private transfers to these families by their relatives, friends, and neighbors. Third, it examines the effects of family structure, private financial transfers, and their interaction on the level of wealth among families with dependent children." This paper is based on research and surveys, but written for those who work with underprivileged youth and
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