IDA Financial Education: Qualitative Impacts
This article reports qualitative impacts of a 16-hour Extension financial education program for Individual Development Account (IDA) participants. IDAs are matched savings accounts designed to help limited resource individuals save for goals that enhance long-term financial security. The reported here study provides evidence that a measure of program success, beyond IDA savings deposits, is providing learners with skills to make sound financial decisions. Six key themes emerged from participants' anecdotes: (a) increased financial awareness, (b) participant empowerment, (c) specific behavior changes, (d) increased personal control, (e) impacts on participants' family, and (f) evidence of financial education classes as a social support mechanism.
O’Neill, B. (2006). IDA Financial Education: Qualitative Impacts. The Journal of Extension, 44(6), Article 16. https://tigerprints.clemson.edu/joe/vol44/iss6/16