Download or read book Savings and Asset Accumulation in Individual Development Accounts written by and published by . This book was released on 2001 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Can the Poor Save written by Michael Sherraden and published by Routledge. This book was released on 2017-09-08 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many policymakers argue that the best poverty policy not only provides cash to the poor for subsistence but also incentives and structures that encourage long-term social and economic improvement. As part of this, they make the case for Individual Development Accounts (IDAs), a new policy proposal designed to help the poor save and to build assets. This book explores IDAs to determine their effectiveness. IDAs are matched savings accounts targeted on low-income, low-wealth individuals. Savings in IDAs are used for home ownership, post-secondary education, small business development, and other purposes. Do IDAs work? If they do, for whom? And does how an IDA is designed determine savings outcomes? This volume is the first analysis of matched savings by the poor to use data from monthly bank statements. It comes at a critical time, as debate rages over the merits of individual social security accounts. IDAs also respond to policy that is becoming more asset based and less inclusive of the poor. The authors argue for the efficacy of IDAs to counter this tendency. They find that while savings outcomes vary among participants, no characteristics (such as low income or public assistance) preclude saving. They examine effects of IDA design (the match rate, savings targets, and the use of automatic transfer) on savings results and analyze factors that influence varying rates of saving and spending over time. They conclude that financial education and other support services, though costly, improve savings performance. To address the issue of cost they suggest a two-tier system of IDA design, one with broad access and simple services and the other with targeted access and intensive services. Can the Poor Save? offers a wealth of lessons to those interested in saving and asset accumulation among the poor. It not only breaks new ground in the scientific study of savings behavior, but also offers concrete, evidence-based recommendations to improve policies designed to encourage the poor to save and how to make such policies more inclusive.
Download or read book What Do Individual Development Accounts Do Evidence from a Controlled Experiment written by Gregory Mills and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the first controlled field experiment on Individual Development Accounts (IDAs). Including their own contributions and matching funds, treatment group members could accumulate up to $6,750 for home purchase or $4,500 for other qualified uses. Almost all treatment group members opened accounts, but many withdrew the balances for unqualified purposes. For black renters at baseline, the IDA raised home ownership rates by almost 10 percentage points over 4 years, but reduced financial assets and business ownership. White renters experienced no home ownership effects, but business equity rose. Home owners used the IDA in different ways than renters.
Download or read book Annotated Bibliography written by Adrianna Kezar and published by . This book was released on 2009 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: During their three-year research project, the authors found that most practitioners, researchers, and policymakers in the education field were not familiar with Individual Development Accounts (IDAs) or the existing research on IDAs. Therefore, in this paper the authors compiled a list of some of the references that they found useful and that they believe will help to learn more about IDAs. To begin, an IDA is a matched savings account for low-income students to save toward postsecondary education. In addition to match savings the IDA includes financial literacy education, asset-specific education, and case management.
Download or read book The Creation and Evolution of Individual Development Accounts in North Dakota written by Andrea Marie Olson and published by . This book was released on 2011 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This author reviews and predicts the challenges ahead for the individual development account program of the North Dakota Community Action Partnership (NDCAP). NDCAP is an organization that serves low income people teaching financial literacy, planning, and savings. Individual Development Accounts (IDAs) are special savings accounts designed to help families and individuals of modest means to establish a pattern of regular saving for an asset such as a first home, post-secondary education, or a small business.
Download or read book From Individual Development Accounts to Community Asset Building written by Solana Rice and published by . This book was released on 2005 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Individual Development Accounts (IDAs) are matched saving accounts for low-income individuals to save for the purchase of an asset. As one of many national initiatives that encourage homeownership, this thesis explores how community-based organizations use this tool in concert with other community development efforts to not only help individuals purchase homes, but also help families maintain the asset. Unlike most research on IDAs, this thesis studies organizations, not individuals, as its unit of analysis because organizational capacity and decision-making greatly shapes the participant experience. Through the study of three community-based organizations that have IDAs as a component of their work, this thesis finds the ability to 1) quickly establish trust through developing relationships and reputation, 2) respond to local housing markets and participant demand, and 3) connect to resources and services puts these organizations at the forefront of using Individual Development Accounts as a versatile economic development tool that is part of a larger agenda of creating communities and neighborhoods that can sustain homeownership.
Download or read book Saving Patterns in Individual Development Account Programs written by and published by . This book was released on 2000 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Individual Development Accounts IDAs written by Eugene Henry Falk and published by . This book was released on 2013 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inclusive Child Development Accounts written by Jin Huang and published by Routledge. This book was released on 2020-05-21 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inclusive Child Development Accounts showcases the global context of emerging asset-building policies and programmes around Child Development Accounts. Child Development Accounts (CDAs) are subsidized accounts that enable families to accumulate assets to invest in children’s development and life goals, such as postsecondary education, homeownership, business development, and retirement security. The vision for CDAs is to be universal (meaning everyone participates), progressive (meaning greater subsidies for the poor), and lifelong (meaning from the cradle to the grave). Since 1991, schools, communities, states, provinces, and entire countries have launched various CDA programs and policies. In the first part of the volume, scholars highlight the core feature of "inclusiveness" of CDAs in Singapore, Israel, and the United States. In the second part, scholars report on CDA policies and projects in Taiwan, Uganda, Korea, and mainland China. Showing how asset building can be effective in diverse cultural and social contexts, and that all these contexts emphasize the investing in children early in life and empowering of them to achieve their potential as productive citizens, Inclusive Child Development Accounts will be of great interest to scholars of social work, policy, investment, and development, as well as financial inclusivity. It originally published as a special issue of the Asia Pacific Journal of Social Work and Development.
Download or read book Individual Development Accounts IDAs written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Coordinating Individual Development Accounts and the Workforce Investment Act to Increase Access to Postsecondary Education and Training written by and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper was jointly developed by CLASP and the Center for Social Development, Washington University in St. Louis. It explores the potential coordination of Individual Development Accounts with Workforce Investment Act programs to increase access to postsecondary education, job training, and related services for low-income individuals.
Download or read book Individual Development Accounts IDAs written by Eugene Henry Falk and published by . This book was released on 2008 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Individual Development Accounts and Post Secondary Education written by Michal Grinstein-Weiss and published by . This book was released on 2014 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents evidence from a randomized field experiment testing the impact of a 3-year matched savings program on educational outcomes 10 years later. We examine the effect of an Individual Development Account (IDA) program on educational enrollment, degree completion, and increased education level. The IDA program, which ran from 1998 to 2003 in Tulsa, Oklahoma, provided low-income households with financial education and matching funds for qualified savings withdrawals, including a 1:1 match for educational uses. We find a significant impact on education enrollment and positive, but non-significant impacts on degree completion and increase in level of education. We also examine the interaction between gender and treatment assignment and find that the IDA had a strong positive effect on increased educational attainment for males, but not for females.
Download or read book Effects of Individual Development Accounts on Asset Purchases and Saving Behavior written by Gregory Mills and published by . This book was released on 2011 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate the first controlled field experiment on Individual Development Accounts (IDAs). Including their own contributions and matching fund, treatment group members in the Tulsa, Oklahoma program could accumulate $6,750 for home purchase or $4,500 for other qualified uses. Almost all treatment group members opened accounts, but many withdrew all funds for unqualified purposes. Among renters at the beginning of the experiment, the IDA increased homeownership rates after 4 years by 7-11 percentage points and reduced non-retirement financial assets by $700-$1000. The IDA had almost no other discernable effect on other subsidized assets, overall wealth or poverty rates.
Download or read book The Role of Institutions In Low income Households Saving Behavior written by Jami Curley and published by . This book was released on 2010-02 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Potential for Marriage Development Accounts in the District of Columbia written by United States. Congress. Senate. Committee on Appropriations. Subcommittee on District of Columbia and published by . This book was released on 2006 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Social and Financial Supports The Effect on Saving in Individual Development Accounts written by Julia Lyskawa and published by . This book was released on 2011 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The mission of the federal Assets for Independence (AFI) program is to help low-income families improve their financial literacy and acquire long-term assets by saving in special matched savings accounts called individual development accounts (IDAs). This paper evaluates the AFI program, specifically the effect offering financial and social services has on participant saving in individual development accounts. Using data from the AFI Annual Data Report, a cross-sectional analysis and a panel data analysis are both run to test this research question. Both models control for IDA participant characteristics. The results of these analyses illustrate that the availability of financial services for IDA savers has a positive impact on average participant savings. This may be an argument for requiring all AFI grantees to offer a minimum level of financial supports to participants.
