The global population of youth is increasing rapidly, particularly in developing countries. A formal bank savings account may be one of the most secure ways for these youth to protect their savings and asset accumulations. Youth savings, however, has received relatively little scholarly attention even though financial institutions, non-profits, and governments have initiated youth savings products in many countries. This report reviews available evidence on youth savings programs, characteristics of youth savers, savings performance, and potential impacts of saving on youth development.
Project: YouthSave
Citation
Masa, R., Sherraden, M. S., Zou, L., Ssewamala, F., Johnson, L., Ansong, D., Chowa, G., & Sherraden, M. (2010). Youth savings around the world: Youth characteristics, savings performance, and potential effects (CSD Research Report No. 10-15). St. Louis, MO: Washington University, Center for Social Development.