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Contributions of qualitative research to understanding savings for children and youth

Author

Listed:
  • Sherraden, Margaret
  • Peters, Clark
  • Wagner, Kristen
  • Guo, Baorong
  • Clancy, Margaret

Abstract

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.

Suggested Citation

  • Sherraden, Margaret & Peters, Clark & Wagner, Kristen & Guo, Baorong & Clancy, Margaret, 2013. "Contributions of qualitative research to understanding savings for children and youth," Economics of Education Review, Elsevier, vol. 32(C), pages 66-77.
    • Handle: RePEc:eee:ecoedu:v:32:y:2013:i:c:p:66-77
    DOI: 10.1016/j.econedurev.2012.09.006
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    Cited by:

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    3. Ismayilova, Leyla & Ssewamala, Fred & Huseynli, Aytakin, 2014. "Reforming child institutional care in the Post-Soviet bloc: The potential role of family-based empowerment strategies," Children and Youth Services Review, Elsevier, vol. 47(P2), pages 136-148.
    4. Terri Friedline, 2015. "A Developmental Perspective on Children's Economic Agency," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 39-68, March.
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    6. Messacar, Derek & Frenette, Marc, 2019. "Education savings plans, matching contributions, and household financial allocations: Evidence from a Canadian reform," Economics of Education Review, Elsevier, vol. 73(C).
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    8. Terri Friedline & Mary Rauktis, 2014. "Young People Are the Front Lines of Financial Inclusion: A Review of 45 Years of Research," Journal of Consumer Affairs, Wiley Blackwell, vol. 48(3), pages 535-602, October.

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    More about this item

    Keywords

    Saving; Education; College; Child Development Accounts (CDAs); Child Savings Accounts; Foster youth; Qualitative methods;
    All these keywords.

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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