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Wittman, LeAnn.

From Helena to Harlem Barriers to Saving at Two SEED Sites / [electronic resource] : LeAnn Wittman &Edward Scanlon. - pp. 415-435.

Policy makers are increasingly interested in incentivized savings programs for low-income children. This study reports findings from interviews with caregivers of accountholders in the Saving for Education, Entrepreneurship, and Downpayment (SEED), a national research initiative. Although asset-building proponents emphasize that low-income citizens can save with the right supports, median saving rates in the SEED study were quite low. In-depth interviews conducted with 27 caregivers at 2 distinct program sites describe obstacles to saving. Barriers are categorized as financial, spatial, cognitive, and behavioral. Policy and practice implications may enhance low savings rates among low-income participants in many incentivized savings programs.


Mode of access: Internet.

Subjects--Index Terms: asset building, children’s savings accounts, poverty, savings barriers