More than a penny saved: Long-term changes in behavior among savings program participants

Cäzilia Loibl*, Michal Grinstein-Weiss, Min Zhan, Beth Red Bird

*Corresponding author for this work

Research output: Contribution to journalArticle

32 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)98-126
Number of pages29
JournalJournal of Consumer Affairs
Volume44
Issue number1
DOIs
StatePublished - Mar 1 2010

ASJC Scopus subject areas

  • Sociology and Political Science
  • Economics, Econometrics and Finance(all)

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