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- Title
More Than a Penny Saved: Long-Term Changes in Behavior Among Savings Program Participants.
- Authors
LOIBL, CÄZILIA; GRINSTEIN‐WEISS, MICHAL; ZHAN, MIN; RED BIRD, BETH
- Abstract
This article examines the levels of savings of former participants in a matched savings program. Findings from a survey of Individual Development Account (IDA) participants and a general low-income population sample show that participants who successfully completed the savings program report higher household savings than both participants who left the program early and a non-participant comparison group, suggesting that successful completion of an IDA program may improve the financial dispositions and behaviors associated with long-term savings. Three predictors of saving behavior emerged: access to the financial mainstream, individual psychological disposition, and the presence of children in the household.
- Subjects
INDIVIDUAL development accounts; SAVINGS accounts; SAVINGS; POOR people; SURVEYS; CONSUMER behavior
- Publication
Journal of Consumer Affairs, 2010, Vol 44, Issue 1, p98
- ISSN
0022-0078
- Publication type
Article
- DOI
10.1111/j.1745-6606.2010.01159.x