Work

Institutions and Savings in Low-Income Households

Year: 2009

Type: article

Abstract: This paper examines the influence of structured savings program arrangements on the saving performance of low-income households in individual development accounts (IDAs). Data are drawn from the American Dream Demonstration (1997-2004), which looked at the saving performance of low-income households in matched savings accounts across the United States. Hierarchical multivariate regression is used to identify which specific structural program arrangements are important in influencing the saving performance of low-income families. Findings suggest that overall, structured program arrangements, including financial education, peer mentoring groups and saving targets are important in influencing people's saving performance-including low-income families.

Source: The Journal of Sociology & Social Welfare

DOI: 10.15453/0191-5096.3448

Authors: Jami Curley, Fred Ssewamala, Michael Sherraden

Institutions: Saint Louis University, Columbia University, Washington University in St. Louis

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: No poverty, Reduced inequalities

Open Access status: bronze

OpenAlex ID: W4367335088

FWCI: 10.7

Cites: 28

Cited by: 25

Related to: 10