Prize Linked Accounts for Youth (PLAY): a new approach to youth financial education and saving
AbstractMission SF Community Financial Center, a nonprofit affiliate of the Mission SF Federal Credit Union in San Francisco, CA, has developed an innovative approach to teaching youth financial education and encouraging youth to save by awarding a prize linked to their savings behavior. This article looks at the experiences of youth in the first year of the pilot program, and summarizes the pilot’s successes and challenges in providing financial education to youth and encouraging them to reach their savings goals. Although the first year pilot was small, the initial results are encouraging. Youth who participated in the program saved an average of $78 over three months, and also demonstrated increases in their financial knowledge and in positive financial behaviors.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Federal Reserve Bank of San Francisco in its journal Community Investments.
Volume (Year): (2011)
Issue (Month): Spr ()
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Diane Rosenberger).
If references are entirely missing, you can add them using this form.