The three-month reserve club is becoming more exclusive everyday and only for the privileged few who have been able to save enough to maintain more than a three-month reserve.

According to United for a Fair Economy, a research and training organization in Boston, there are many people whose savings would be depleted in three or fewer months. Seventy-three percent of Latino families, 79 percent of African-American families and 38 percent of White families have no more than a three-month reserve of income, which means many families now live in fear of becoming homeless.

The first step for families to change the state of the economy is to build awareness and understanding of the current situation.

Find answers to questions like:
• Why are things the way they are?
• Why is there a wealth gap between different races, classes and ethnic groups?
• Is it pre-ordained by the heavens?
• Is it the fault of the individual?
• Is it the fault of Latinos and African-Americans?
• Or are there systemic and/or government policies that create this inequality?

The next step is to take action. Create a crisis budget and build up your reserve (savings) and/or get together with other families to organize creative ways to save more as a community.

Many people find economic concepts confusing. Technical terms used by economists on TV and radio are not familiar to many people.

Begin to think critically about your individual economic condition and that of your community.

In theory, a community has more power than an individual famliy. In practice, it is a process that takes time and requires people who have already gone through the first step of building awareness. They are empowered by their ...