This study is the first quantitative look at the effects of financial education on savings outcomes for the poor in Individual Development Accounts. The findings suggest that financial education has sizeable effects, and that courses need not be long to take advantage of them. Marketing and public-policy implications are noted.
Citation
Clancy, M., Grinstein-Weiss, M., & Schreiner, M. (2001). Financial education and savings outcomes in Individual Development Accounts (CSD Working Paper No. 01-02). St. Louis, MO: Washington University, Center for Social Development.