Saving in Low-Income Households: Evidence From Interviews With Participants in the American Dream Demonstration

In this report we present findings from in-depth interviews with low-income households, who participated in a social experiment on IDAs. These interviews explore a range of questions, which have largely not been addressed with this population. Do low-income households save? If so, how do they save? What is their family and personal history with savings and asset accumulation? What are their views of savings instruments and the effects of the saving process and savings on their lives? While a number of hypotheses can be explored with these data, in this report we present the data descriptively, using the respondents’ words and quotes to illustrate main themes. Subsequent publications will apply theoretical perspectives on saving, testing their applicability to these data. Where possible, we draw on other data that has been gathered from the experimental site and from the larger American Dream Demonstration research project.