IDEAS home Printed from https://ideas.repec.org/a/eee/ecoedu/v32y2013icp66-77.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0272775712001185
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Webley, Paul & Nyhus, Ellen K., 2013. "Economic socialization, saving and assets in European young adults," Economics of Education Review, Elsevier, vol. 33(C), pages 19-30.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. Furnham, Adrian, 1999. "The saving and spending habits of young people," Journal of Economic Psychology, Elsevier, vol. 20(6), pages 677-697, December.
    9. Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
    10. 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.
    11. 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.
    12. 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.
    13. Moschis, George P, 1985. " The Role of Family Communication in Consumer Socialization of Children and Adolescents," Journal of Consumer Research, Oxford University Press, vol. 11(4), pages 898-913, March.
    14. 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.
    15. 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.
    16. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.
    2. repec:eee:cysrev:v:81:y:2017:i:c:p:178-187 is not listed on IDEAS
    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 & 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.
    5. Terri Friedline, 2015. "A Developmental Perspective on Children's Economic Agency," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 39-68, March.
    6. Casey Totenhagen & Deborah Casper & Kelsey Faber & Leslie Bosch & Christine Wiggs & Lynne Borden, 2015. "Youth Financial Literacy: A Review of Key Considerations and Promising Delivery Methods," Journal of Family and Economic Issues, Springer, vol. 36(2), pages 167-191, June.

    More about this item

    Keywords

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

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecoedu:v:32:y:2013:i:c:p:66-77. See general 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: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/econedurev .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.