The number of youth (ages 15-24) rise to 1.2 billion by 2050, they will need to assume adult economic roles and responsibilities. Their interactions with informal and formal financial institutions will increase and a bank savings account may be one of the most secure ways for youth to protect their savings and asset accumulation. Youth savings initiatives have been implemented by governments, financial institutions, and nonprofit organizations around the world. This research brief highlights the main characteristics of youth, their saving performance, and the impacts on asset-building in various countries who are dedicated to youth savings initiatives.
Masa, R., Sherraden, M. S., Zou, L., Ssewamala, F., Johnson, E., Ansong, D., Chowa, G., & Sherraden, M. (2010, May). Youth savings around the world: Youth characteristics, savings performance, and potential impacts (CSD Research Brief No. 10-18). St. Louis, MO: Washington University, Center for Social Development.