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Full-Text Articles in Social Work
Fcab Africa: Advancing Financial Stability, Security, And Well-Being, Center For Social Development
Fcab Africa: Advancing Financial Stability, Security, And Well-Being, Center For Social Development
Center for Social Development Research
In sub-Saharan Africa, mobile phones and financial technology have opened doors to financial inclusion for millions, but the new financial terrain is uneven ground fraught with risks. High fees, aggressive marketing, mounting personal debt, varied digital access, and nascent regulatory structures heighten vulnerability and threaten hard-won progress toward broad financial inclusion. Financial Capability and Asset Building in Africa, or FCAB Africa, will equip human-service professionals to broaden financial stability, security, and well-being in sub-Saharan Africa, developing the financial capability of service populations and cultivating sound financial strategies. The initiative will also work with financial-service providers to create a comprehensive financial-development …
Policy Recommendations For Expanding Access To Banking And Financial Services, Terri Friedline, Mathieu R. Despard, Julie Birkenmaier
Policy Recommendations For Expanding Access To Banking And Financial Services, Terri Friedline, Mathieu R. Despard, Julie Birkenmaier
Center for Social Development Research
Access to financial services is a necessity in the modern economy, yet many households lack such access. This brief, released through the Grand Challenges for Social Work initiative’s network toBuild Financial Capability for All, identifies policies with the potential to expand access to financial services for households in the United States.
Faculty Perspectives On Financial Capability And Asset Building In Social Work Education: A Research Report, Margaret S. Sherraden, Jin Huang, Lissa Johnson, Peter Dore, Julie Birkenmaier, Vernon Loke, Sally Hageman
Faculty Perspectives On Financial Capability And Asset Building In Social Work Education: A Research Report, Margaret S. Sherraden, Jin Huang, Lissa Johnson, Peter Dore, Julie Birkenmaier, Vernon Loke, Sally Hageman
Center for Social Development Research
This report is based on a study conducted in collaboration with the Council on Social Work Education. The report presents findings from a national online survey of social work faculty. Results identify financial and economic (F&E) content taught in the current curriculum, gaps in coverage, and strategies for improving the academic preparation of social workers in these areas. Findings will inform financial capability and asset-building curriculum and improve the academic preparation of social workers.
Annual Report On The Head Start Family Financial Capability Program: 2015–2016, Jami Curley, Anne S. Robertson
Annual Report On The Head Start Family Financial Capability Program: 2015–2016, Jami Curley, Anne S. Robertson
Center for Social Development Research
This report presents results from a mixed-methods evaluation of the third year of implementation of a financial-capability program with Head Start families in the St. Louis, Missouri, metropolitan area: The Head Start Family Financial Capability (HSFFC) Program. The program combined savings incentives, budget and credit counseling, and one-on-one coaching with 10 hours of financial education on debt management, banking, budgeting, saving, and credit. The results reported here come from analyses of data on 339 adult program participants from Head Start families, 107 Head Start staff who participated in the program, and administrators and staff implementing the program at Head Start …
Employee Financial Wellness Programs Project: Comprehensive Report Of Findings, Ellen Frank-Miller, Meredith Covington, Mathieu R. Despard, Geraldine Hannon, Michal Grinstein-Weiss
Employee Financial Wellness Programs Project: Comprehensive Report Of Findings, Ellen Frank-Miller, Meredith Covington, Mathieu R. Despard, Geraldine Hannon, Michal Grinstein-Weiss
Center for Social Development Research
Using insights from employers and employees to generate evidence on employee financial wellness programs (EFWPs), this research report illustrates findings from a mixed-methods study assessing the potential of these programs to increase the financial stability of American workers. The research team surveyed employers that offered or were interested in offering an EFWP and subsequently conducted in-depth interviews with a subsample of those employers to acquire a greater understanding of survey responses. Further, the research team conducted intensive case studies, examining the relationship between EFWP providers and their clients as well as the dynamics of program delivery. These case studies benefitted …
Employee Financial Wellness Programs: A Review Of The Literature And Directions For Future Research, Geraldine Hannon, Meredith Covington, Mat Despard, Ellen Frank-Miller, Michal Grinstein-Weiss
Employee Financial Wellness Programs: A Review Of The Literature And Directions For Future Research, Geraldine Hannon, Meredith Covington, Mat Despard, Ellen Frank-Miller, Michal Grinstein-Weiss
Center for Social Development Research
This is a literature review of studies that have examined the implementation of financial wellness programs in the workplace. The review suggests that employee financial wellness programs (EFWPs) have drawn on both existing and new methods to improve the financial security of employees. Although a number of studies have been conducted on employer-based financial education and retirement planning, evidence concerning the efficacy of EFWPs is limited. Moreover, the methodological shortcomings of studies in the workplace financial wellness field have limited evidence concerning returns on investment and impeded efforts to make best-practice recommendations. Thus, researchers should consider strengthening the evidence base …
Financial Inclusion In China: Use Of Credit, Zibei Chen, Minchao Jin
Financial Inclusion In China: Use Of Credit, Zibei Chen, Minchao Jin
Center for Social Development Research
Limited access to credit can cause financial vulnerability for a household and economic loss for a country. Previous studies have shown that only small portions of populations in developing countries use formal credit, but few studies have focused on Chinese populations. Analyzing data from the 2011 China Household Financial Survey, this study explored Chinese households’ credit use. Over half of the sample (53.21%) reported using credit, and only 19.77% of the sample used formal credit. Use of formal credit was associated with the socioeconomic characteristics of household heads (e.g., employment and education) and of households (e.g., income and net worth). …
Nudging Youth To Develop Savings Habits: Experimental Evidence Using Sms Messages, Katherine Rodríguez, Juan E. Saavedra
Nudging Youth To Develop Savings Habits: Experimental Evidence Using Sms Messages, Katherine Rodríguez, Juan E. Saavedra
Center for Social Development Research
In this working paper, we report on a field experiment articulating financial information via cellphone text messages and financial decisions among low-income youth in Colombia. For twelve months, youth accountholders are randomly assigned to receive either: (a) monthly financial education messages, (b) monthly savings reminders, (c) semimonthly reminders, or (d) control. After 12 months, account balances in monthly and semimonthly reminders groups increase by 28% and 43%, respectively, relative to controls. Financial education messages do not increase balances. Over two thirds of balance increases in reminder groups are net savings. Savings effects of reminders last eight months after youth stop …
A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden
A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden
Center for Social Development Research
In November 2015, Israel enacted legislation to create and fund a Child Development Account program. Beginning in 2017, every baby born to an insured Israeli resident will receive a Child Development Account in his or her name. This brief details the policy, which was developed in collaboration with researchers at the Center for Social Development, and offers recommendations to guide its implementation.
Annual Report On The Asset Project's Head Start Family Financial Capability Pilot: 2014–2015, Anne S. Robertson, Jami Curley
Annual Report On The Asset Project's Head Start Family Financial Capability Pilot: 2014–2015, Anne S. Robertson, Jami Curley
Center for Social Development Research
Since the Great Recession (December 2007–2009 in the United States), poverty has compromised many families and increased the prevalence of young children living in neighborhoods of concentrated, deep poverty. However, financial literacy interventions have reported promising outcomes for influencing financial choices and financial knowledge, highlighting the potential of such programs for improving the economic positions of families and children. This report presents results from a mixed-methods evaluation of a financial literacy intervention with Head Start families in the St. Louis metropolitan area. The intervention combines savings incentives and one-on-one coaching with 10 hours of financial education on debt management, banking, …
Youth Saving Patterns And Performance In Colombia, Ghana, Kenya, And Nepal: Key Findings, Lissa Johnson, Yungsoo Lee, David Ansong, Margaret S. Sherraden, Gina A. N. Chowa, Fred Ssewamala, Li Zou, Moses Njenga, Joseph Kieyah, Isaac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Rodriguez, Frederico Merchán, Juan Saavedra, Michael Sherraden
Youth Saving Patterns And Performance In Colombia, Ghana, Kenya, And Nepal: Key Findings, Lissa Johnson, Yungsoo Lee, David Ansong, Margaret S. Sherraden, Gina A. N. Chowa, Fred Ssewamala, Li Zou, Moses Njenga, Joseph Kieyah, Isaac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Rodriguez, Frederico Merchán, Juan Saavedra, Michael Sherraden
Center for Social Development Research
If provided an opportunity to save via formal financial services, do youth in developing countries participate, save, and accumulate assets? This was one of the key questions asked in YouthSave. Savings accounts were created in four developing countries, targeting youth aged 12 to 18 years from predominantly low-income households. This brief highlights research findings on account uptake and savings from the Savings Demand Assessment (SDA).
Financial Capability And Asset Building In Social Work Education: “The Big Piece Missing?”, Margaret S. Sherraden, Julie Birkenmaier, Michael Rochelle, Gena G. Mcclendon
Financial Capability And Asset Building In Social Work Education: “The Big Piece Missing?”, Margaret S. Sherraden, Julie Birkenmaier, Michael Rochelle, Gena G. Mcclendon
Center for Social Development Research
Since the 1990s, social workers have renewed the profession’s early focus on improving the financial well-being of vulnerable families. Nonetheless, most social workers receive little training and education about how to help clients build stable and secure financial lives. This study uses in-depth interviews and pre- and post-surveys to examine the effects of a Financial Capability and Asset Building (FCAB) curriculum in six Minority Serving Institutions. In-depth interviews with 24 school administrators, FCAB instructors, and faculty colleagues suggest that faculty chose FCAB content based on course goals, content utility, and alignment with social work education standards. Furthermore, faculty reported gaining …
Youth Savings Patterns And Performance In Ghana: A Supplementary Report, Lissa Johnson, Yungsoo Lee, David Ansong, Gina Chowa, Michael Sherraden, Isaac Osei-Akoto
Youth Savings Patterns And Performance In Ghana: A Supplementary Report, Lissa Johnson, Yungsoo Lee, David Ansong, Gina Chowa, Michael Sherraden, Isaac Osei-Akoto
Center for Social Development Research
This report provides findings on youth savings patterns and performance of youth who opened formal savings accounts through Ghana’s HFC Bank. This report supplements a larger study on youth savings patterns and performance in Ghana, Kenya, Nepal, and Colombia through the YouthSave project.
Head Start Family Financial Capability: 2013–2014 Annual Report Of The Asset Project, Jami Curley, Anne S. Robertson
Head Start Family Financial Capability: 2013–2014 Annual Report Of The Asset Project, Jami Curley, Anne S. Robertson
Center for Social Development Research
Head Start Family Financial Capability: 2013–2014 Annual Report of the Asset Project
Baseline Survey Of The Third Cohort: A Supplemental Report From The Youthsave Ghana Experiment, Gina Chowa, David Ansong, Rainier Masa, Shiyou Wu, Yalitza Ramos, Meli Blake Kimathi
Baseline Survey Of The Third Cohort: A Supplemental Report From The Youthsave Ghana Experiment, Gina Chowa, David Ansong, Rainier Masa, Shiyou Wu, Yalitza Ramos, Meli Blake Kimathi
Center for Social Development Research
Baseline Survey of the Third Cohort: A Supplemental Report From the YouthSave Ghana Experiment
Savings Patterns And Performance In Colombia, Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, Michael Sherraden, Gina A. N. Chowa, David Ansong, Fred Ssewamala, Margaret Sherraden, Li Zou, Moses Njenga, Joseph Kieyah, Isaac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Rodriguez, Frederico Merchán, Juan Saavedra
Savings Patterns And Performance In Colombia, Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, Michael Sherraden, Gina A. N. Chowa, David Ansong, Fred Ssewamala, Margaret Sherraden, Li Zou, Moses Njenga, Joseph Kieyah, Isaac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Rodriguez, Frederico Merchán, Juan Saavedra
Center for Social Development Research
Savings Patterns and Performance in Colombia, Ghana, Kenya, and Nepal
Conceptual Development Of The Cyfi Model Of Children And Youth As Economic Citizens, Margaret S. Sherraden, David Ansong
Conceptual Development Of The Cyfi Model Of Children And Youth As Economic Citizens, Margaret S. Sherraden, David Ansong
Center for Social Development Research
Conceptual Development of the CYFI Model of Children and Youth as Economic Citizens
Research Evidence On The Cyfi Model Of Children And Youth As Economic Citizens, Margaret S. Sherraden, David Ansong
Research Evidence On The Cyfi Model Of Children And Youth As Economic Citizens, Margaret S. Sherraden, David Ansong
Center for Social Development Research
Research Evidence on the CYFI Model of Children and Youth as Economic Citizens
Financial Knowledge And Attitudes Of Youth In Ghana, Gina A. N. Chowa, Mathieu R. Despard, Isaac Osei-Akoto
Financial Knowledge And Attitudes Of Youth In Ghana, Gina A. N. Chowa, Mathieu R. Despard, Isaac Osei-Akoto
Center for Social Development Research
Financial Knowledge and Attitudes of Youth in Ghana
Assets As A Resource Variable In The Stress Management Of Low-Income Families, David Rothwell, Chang-Keun Han
Assets As A Resource Variable In The Stress Management Of Low-Income Families, David Rothwell, Chang-Keun Han
Center for Social Development Research
The hard times resulting from the 2008 recession represent an opportunity to re-examine the theoretical framework for how families use economic resources to adjust and adapt to stress. Sherraden’s (1991) theory of assets and McCubbin and Patterson’s (1983) Family Adjustment and Adaptation Response (FAAR) model are used to demonstrate how assets relate to family stressors and demands among a sample of 839 low-income families. The negative relationship between assets and financial stressors and financial strain suggest that the expansion of social welfare policies promoting assets among low-income families may positively influence family relations. Future research on family relations would benefit …
Financial Capability In Children: Effects Of Participation In A School-Based Financial Education And Savings Program, Margaret S. Sherraden, Lissa Johnson, Baorong Guo, William Elliott
Financial Capability In Children: Effects Of Participation In A School-Based Financial Education And Savings Program, Margaret S. Sherraden, Lissa Johnson, Baorong Guo, William Elliott
Center for Social Development Research
A groundswell of interest in young people’s ability to understand and handle financial decisions has generated keen interest in financial knowledge and effectiveness of financial education. This study examines an innovative four-year school-based financial education and savings program, called “I Can Save” (ICS). Using a quasi-experimental design, the study examines quantitative and qualitative data to analyze program effects on financial knowledge. Children who participated in ICS scored significantly higher on a financial literacy test than comparison group students in the same school, regardless of parent education and income. Results suggest that children increase financial capability when they have access to …
Global Savings, Assets And Financial Inclusion: Lessons, Challenges, And Directions, Jamie M. Zimmerman, Ray Boshara, Michael Sherraden, Li Zou, Kate Mckee, Leslie Meek-Wohl, Amy Feldman
Global Savings, Assets And Financial Inclusion: Lessons, Challenges, And Directions, Jamie M. Zimmerman, Ray Boshara, Michael Sherraden, Li Zou, Kate Mckee, Leslie Meek-Wohl, Amy Feldman
Center for Social Development Research
Global Savings, Assets and Financial Inclusion: Lessons, Challenges, and Directions
Increasing Parent Educational Expectations For Children In Sub-Saharan Africa: The Potential Role Of Assets, Gina Chowa, William Elliott Iii
Increasing Parent Educational Expectations For Children In Sub-Saharan Africa: The Potential Role Of Assets, Gina Chowa, William Elliott Iii
Center for Social Development Research
It is commonly held in the education literature that parent expectations are an important factor in predicting children’s achievement in school. However, little research has been conducted on educational expectations of parents living in developing countries. In this study of Ugandans we examine whether parents save more when they are given access to Asset Development Accounts (ADAs) and financial training than parents receiving financial training but no ADAs, and/or parents with no ADA or financial training. We find that Ugandan parents who receive both an ADA and financial training experience an increase in mean wealth of US$77.4 over a two …
From Financial Literacy To Financial Capability Among Youth, Elizabeth Johnson, Margaret S. Sherraden
From Financial Literacy To Financial Capability Among Youth, Elizabeth Johnson, Margaret S. Sherraden
Center for Social Development Research
Youth in the United States are facing an increasingly complex and perilous financial world. Economically disadvantaged youth, in particular, lack financial knowledge and access to mainstream financial institutions. Despite growing interest in youth financial literacy, we have not seen comparable efforts to improve institutional access to financial institutions and services. Instead of aiming for financial literacy, we suggest aiming for financial capability, a concept that builds on the writing of Amartya Sen and Martha Nussbaum. The paper proposes that financial capability results when individuals develop financial knowledge and skills, but also gain access to financial instruments and institutions. The paper …
Educational Status And Savings Performance In Individual Development Accounts, Min Zhan, Michal Grinstein-Weiss
Educational Status And Savings Performance In Individual Development Accounts, Min Zhan, Michal Grinstein-Weiss
Center for Social Development Research
This study examines the relationship between education and savings performance in Individual Development Accounts (IDAs), a matched savings program for the poor. We also investigate whether the relationship between education and savings is mediated by income, intended uses of IDAs, and program (or institutional) factors. The data of this study is from the American Dream Demonstration (N = 2,50), the first national demonstration of IDAs. The results indicate that, compared to the participants without a high school degree, those with some college education, especially those with a 4-year college degree, had higher savings, after controlling for program factors and other …
Organizing For Economic Empowerment Of Battered Women: Women's Savings Accounts, Cynthia K. Sanders, Meg Schnabel
Organizing For Economic Empowerment Of Battered Women: Women's Savings Accounts, Cynthia K. Sanders, Meg Schnabel
Center for Social Development Research
When describing reasons for remaining with or returning to an abusive partner, many women mention economic dependence on their abuser. Few battered women, especially those who are poor,have the economic resources necessary to live independently. Additionally, battered women are commonly isolated from financial resources lacking ready access to cash, checking accounts, or charge accounts. Creating strategies that address financial well-being is essential to addressing the issue ofdomestic violence. This article discusses a collaboration among domestic violence service providers in the St. Louis, Missouri region created to promote the economic development of low-income batteredwomen. The collaboration has culminated in formalized economic …
American Indian Tribal Communities And Individual Development Account (Ida) Policy, Juliet King, Sarah Hicks, Karen Edwards, Alisa Larson
American Indian Tribal Communities And Individual Development Account (Ida) Policy, Juliet King, Sarah Hicks, Karen Edwards, Alisa Larson
Center for Social Development Research
American Indian Tribal Communities and Individual Development Account (IDA) Policy
Financial Education And Savings Outcomes In Individual Development Accounts, Margaret Clancy, Michal Grinstein-Weiss, Mark Schreiner
Financial Education And Savings Outcomes In Individual Development Accounts, Margaret Clancy, Michal Grinstein-Weiss, Mark Schreiner
Center for Social Development Research
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.
A Framework Of Asset-Accumulation Stages And Strategies, Sondra Beverly, Amanda Moore, Mark Schreiner
A Framework Of Asset-Accumulation Stages And Strategies, Sondra Beverly, Amanda Moore, Mark Schreiner
Center for Social Development Research
We propose that asset accumulation occurs in three stages. In the first stage (reallocation), current resource inflows must exceed current outflows. To meet this objective, people reallocate resources from current consumption, current leisure, or future consumption or leisure. In the second stage (conversion), people may convert resources from liquid to illiquid forms. In the third stage (maintenance), individuals resist temptations to dissave. We suggest that people adopt psychological and behavioral strategies to achieve each of these objectives. Putting the two types of strategies together with the three stages of asset accumulation results in six strategy groups. We provide examples of …
Financial Education In A Children And Youth Savings Account Policy Demonstration: Issues And Options, Sondra G. Beverly, Margaret Clancy
Financial Education In A Children And Youth Savings Account Policy Demonstration: Issues And Options, Sondra G. Beverly, Margaret Clancy
Center for Social Development Research
Financial Education in a Children and Youth Savings Account Policy Demonstration: Issues and Options