Do Assets Affect Well-Being? Perceptions of Youth in a Matched Savings Program

This article presents data from a qualitative study of a youth savings account program. In-depth interviews were conducted with 30 youth ages 14-19 between November 2004 and February 2005 who were participants in the Saving for Education, Entrepreneurship, and Downpayment (SEED) national demonstrati...

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Bibliographic Details
Published in:Journal of social service research 2009-01, Vol.35 (1), p.33-46
Main Authors: Scanlon, Edward, Adams, Deborah
Format: Article
Language:English
Subjects:
asset effects
Asset-based welfare
Attitudes
Children & youth
children's savings accounts
Economic behaviour. Consumption
Economic sociology
Effects
Money
Perception
Perceptions
Programs
Qualitative research
Savings
Savings accounts
Social impact
Sociology
Sociology of economy and development
Sociology of the family. Age groups
Studies
Well Being
Young people
Youth
Youth problems
youth savings
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Summary:This article presents data from a qualitative study of a youth savings account program. In-depth interviews were conducted with 30 youth ages 14-19 between November 2004 and February 2005 who were participants in the Saving for Education, Entrepreneurship, and Downpayment (SEED) national demonstration project. Our findings focus on youths' perceptions of the psychological, behavioral, and social impacts of savings-program participation. Five of our hypothesized effects were found including: (1) fiscal prudence, (2) view of self, (3) future orientation, (4) sense of security, and (5) financial knowledge. Youth did not generally perceive that savings participation had impacts on: (1) family interactions, or (2) community involvement. Following the presentation of findings, our discussion centers on implications for theory building, research, and policy and program design.
ISSN:0148-8376
1540-7314
DOI:10.1080/01488370802477048