Managing and maximizing household finances is a good way to improve household stability.
Financial stability and housing stability go hand in hand.
Stabilizing a household budget
Spending diaries can help stabilize rental households by tracking actual spending habits. This info can be used to adjust spending to income and to create contingency plans (ie. savings) for inevitable emergencies like illness, job loss, loss of transportation, etc.)
Want to stop evictions? Support personal rainy day funds.
Well over 90% of evictions in Ohio result from non payment of rent. The reality is that a burned out clutch that you pay to repair or else miss work could put you out of your home and ding your credit going forward. Once evicted you have fewer choices of where to live resulting in higher rents or poorer conditions. Matthew Desmond describes this cycling down in his book "Evicted". A couple new reports underscore the problem of having cash for emergencies. PRI's Marketplace writes aboiut Neal Gabler's article: "Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them." Gabler's full article is here. And on PRI's Marketplace, Nancy Marshall Genzer reports on a new Brookings study about rainy day funds. "A new report from the Urban Institute connects the dots between the financial health of cities and their residents. Turns out even a small nest egg can help families weather a financial emergency, so they don’t have to turn to the government for help. The report says almost a quarter of American families have no savings outside of retirement plans."