TY - JOUR
T1 - Yes, the poor can be taught to save-evidence from a survey of IDA program participants
AU - Loibl, Caezilia
AU - Bird, Beth Red
AU - Grinstein-Weiss, Michal
AU - Zhan, Min
PY - 2009/12/1
Y1 - 2009/12/1
N2 - The question whether multi-year, intensive financial literacy programs aimed at helping those with low incomes and few assets actually work out in the long-run has not yet been answered. The current study is the first to scrutinize the outcome of participation in the Individual Development Account program in order to fill this void. The findings of a mail survey suggest that those who completed the program are more likely to accumulate assets, continue saving, and establish investment accounts, compared to those leaving the program prematurely. The influence of self-control and future orientation on savings behavior is discussed.
AB - The question whether multi-year, intensive financial literacy programs aimed at helping those with low incomes and few assets actually work out in the long-run has not yet been answered. The current study is the first to scrutinize the outcome of participation in the Individual Development Account program in order to fill this void. The findings of a mail survey suggest that those who completed the program are more likely to accumulate assets, continue saving, and establish investment accounts, compared to those leaving the program prematurely. The influence of self-control and future orientation on savings behavior is discussed.
UR - http://www.scopus.com/inward/record.url?scp=80052865379&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=80052865379&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:80052865379
SN - 0098-9258
VL - 36
SP - 868
EP - 869
JO - Advances in Consumer Research
JF - Advances in Consumer Research
ER -