Briefs & Summaries Financial Inclusion Global Asset Building

Youth Saving Patterns and Performance in Ghana

This research brief looks at the saving attitudes and behavior of youth in the YouthSave Ghana Experiment. Many youth in Sub-Saharan Africa (SSA) save or try to save part of their income—usually for school materials and fees, clothing, entertainment, and emergencies—by
using informal methods such as cash boxes and hiding places (UNCDF, 2011). When given access to savings products, incentives, and support, youth in SSA are also able to save using formal methods. The youth survey included questions about demographics, education, health, financial capability, asset ownership, living conditions, and future aspirations and expectations. The parent or guardian questionnaire included questions on household information, education, outlook and expectations, health, and financial wellbeing. Findings highlight that the youth involved in this experiment are active savers. They tend to save small amounts using informal methods, yet have very favorable attitudes about using formal financial institutions to save.

Project: YouthSave


Chowa, G. A. N., Despard, M. R., & Osei-Akoto, I. (2012, July). Youth saving patterns and performance in Ghana (YouthSave Research Brief No. 12-36). St. Louis, MO: Washington University, Center for Social Development.