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Mapping the perspectives of low-income parents in a children's college savings account program

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  • Johnson, Toni
  • Adams, Deborah
  • Kim, Johnny S.

Abstract

Policies and programs designed to help low-income families save and build assets for developmental uses such as higher education, homeownership, and entrepreneurship are emerging and growing globally. This study uses participatory concept mapping techniques to explore perspectives of low-income parents in a children's college savings account program in a large US city. Participants in this study worked together to generate data on effective components of child savings account (CSA) programs. They then sorted these CSA components into conceptual groups reflecting their perspectives on which of the program elements were related to one another. Finally, participants were asked to rate the importance of each CSA component. Findings suggest that parents view CSA components that: (1) demonstrate respect for parents and (2) enhance accountability as being particularly effective and important elements of matched saving programs. While much more research is needed, particularly with lower-income families and communities, these findings are consistent with an emerging institutional theory of saving and asset accumulation. Implications for institutional theory, asset-building policies, CSA programs, and future research are discussed.

Suggested Citation

  • Johnson, Toni & Adams, Deborah & Kim, Johnny S., 2010. "Mapping the perspectives of low-income parents in a children's college savings account program," Children and Youth Services Review, Elsevier, vol. 32(1), pages 129-136, January.
    • Handle: RePEc:eee:cysrev:v:32:y:2010:i:1:p:129-136
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    References listed on IDEAS

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    1. Grinstein-Weiss, Michal & Wagner, Kristen & Ssewamala, Fred M., 2006. "Saving and asset accumulation among low-income families with children in IDAs," Children and Youth Services Review, Elsevier, vol. 28(2), pages 193-211, February.
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    3. Esther Duflo & William Gale & Jeffrey Liebman & Peter Orszag & Emmanuel Saez, 2006. "Saving Incentives for Low- and Middle-Income Families: Evidence from a Field Experiment with H&R Block," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(4), pages 1311-1346.
    4. Margaret Clancy & Michal Grinstein-Weiss & Mark Schreiner, 2001. "Financial Education and Savings Outcomes in Individual Development Accounts," HEW 0108001, University Library of Munich, Germany, revised 27 Dec 2001.
    5. Patrick J. Bayer & B. Douglas Bernheim & John Karl Scholz, 2009. "The Effects Of Financial Education In The Workplace: Evidence From A Survey Of Employers," Economic Inquiry, Western Economic Association International, vol. 47(4), pages 605-624, October.
    6. Bernheim, B. Douglas & Garrett, Daniel M., 2003. "The effects of financial education in the workplace: evidence from a survey of households," Journal of Public Economics, Elsevier, vol. 87(7-8), pages 1487-1519, August.
    7. Trochim, William M. K., 1989. "Concept mapping : Soft science or hard art?," Evaluation and Program Planning, Elsevier, vol. 12(1), pages 87-110, January.
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    Cited by:

    1. 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.
    2. Catherine A. Manly & Ryan S. Wells & Genia M. Bettencourt, 2017. "Financial Planning for College: Parental Preparation and Capital Conversion," Journal of Family and Economic Issues, Springer, vol. 38(3), pages 421-438, September.

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