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Contributions of qualitative research to understanding savings for children and youth


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  • Sherraden, Margaret
  • Peters, Clark
  • Wagner, Kristen
  • Guo, Baorong
  • Clancy, Margaret
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    This paper explores contributions of qualitative research to saving theory for children, youth, and parents in children's development account (CDAs) programs. It brings together findings from three studies: (1) elementary school age children saving for college, (2) youth transitioning from foster care saving for education and other purposes, and (3) mothers saving for their toddlers’ future college. Findings suggest that children, youth, and parents find CDAs helpful in accumulating savings. CDAs motivate and facilitate saving in ways that reflect developmental stages. Accumulating savings has positive economic and psychological meaning for CDA participants. CDAs overcome some obstacles in saving for the three groups, but other barriers remain, especially income flows, debt, and emergencies.

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    Bibliographic Info

    Article provided by Elsevier in its journal Economics of Education Review.

    Volume (Year): 32 (2013)
    Issue (Month): C ()
    Pages: 66-77

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    Handle: RePEc:eee:ecoedu:v:32:y:2013:i:c:p:66-77

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    Keywords: Saving; Education; College; Child Development Accounts (CDAs); Child Savings Accounts; Foster youth; Qualitative methods;

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    1. Kim Sosin & James Dick & Mary Lynn Reiser, 1997. "Determinants of Achievement of Economics Concepts by Elementary School Students," The Journal of Economic Education, Taylor & Francis Journals, vol. 28(2), pages 100-121, January.
    2. Hall, Peter A. & Taylor, Rosemary C. R., 1996. "Political science and the three new institutionalisms," MPIfG Discussion Paper 96/6, Max Planck Institute for the Study of Societies.
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    4. Cramer, Reid, 2010. "The big lift: Federal policy efforts to create Child Development Accounts," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1538-1543, November.
    5. Elliott, William & Choi, Eun Hee & Destin, Mesmin & Kim, Kevin H., 2011. "The age old question, which comes first? A simultaneous test of children's savings and children's college-bound identity," Children and Youth Services Review, Elsevier, vol. 33(7), pages 1101-1111, July.
    6. Johnstone, D. Bruce, 2004. "The economics and politics of cost sharing in higher education: comparative perspectives," Economics of Education Review, Elsevier, vol. 23(4), pages 403-410, August.
    7. Cowan, Benjamin W., 2011. "Forward-thinking teens: The effects of college costs on adolescent risky behavior," Economics of Education Review, Elsevier, vol. 30(5), pages 813-825, October.
    8. Naccarato, Toni & Brophy, Megan & Courtney, Mark E., 2010. "Employment outcomes of foster youth: The results from the Midwest Evaluation of the Adult Functioning of Foster Youth," Children and Youth Services Review, Elsevier, vol. 32(4), pages 551-559, April.
    9. Berger, Mark C. & Kostal, Thomas, 2002. "Financial resources, regulation, and enrollment in US public higher education," Economics of Education Review, Elsevier, vol. 21(2), pages 101-110, April.
    10. Moschis, George P, 1985. " The Role of Family Communication in Consumer Socialization of Children and Adolescents," Journal of Consumer Research, University of Chicago Press, vol. 11(4), pages 898-913, March.
    11. Furnham, Adrian, 1999. "The saving and spending habits of young people," Journal of Economic Psychology, Elsevier, vol. 20(6), pages 677-697, December.
    12. Sondra Beverly & Daniel Schneider & Peter Tufano, 2006. "Splitting Tax Refunds and Building Savings: An Empirical Test," NBER Chapters, in: Tax Policy and the Economy, Volume 20, pages 111-162 National Bureau of Economic Research, Inc.
    13. Dworsky, Amy & Courtney, Mark E., 2010. "The risk of teenage pregnancy among transitioning foster youth: Implications for extending state care beyond age 18," Children and Youth Services Review, Elsevier, vol. 32(10), pages 1351-1356, October.
    14. Elliott, William & Sherraden, Margaret & Johnson, Lissa & Guo, Baorong, 2010. "Young children's perceptions of college and saving: Potential role of Child Development Accounts," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1577-1584, November.
    15. Peter Tufano & Daniel Schneider, 2009. "Using financial innovation to support savers: from coercion to excitement," Communities and Banking, Federal Reserve Bank of Boston, issue Spr, pages 6-8.
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    Cited by:
    1. Elliott, William & Sherraden, Michael, 2013. "Assets and educational achievement: Theory and evidence," Economics of Education Review, Elsevier, vol. 33(C), pages 1-7.


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