Loke, V., Choi, L., & Libby, M. (2015).
Increasing youth financial capability: An evaluation of the MyPath Savings initiative. Journal of Consumer Affairs, 49, 97-126. doi:10.1111/joca.12066
Type of Study:
One group pretest-posttest study
Number of Participants:
275
Population:
- Age — 14-18 years (Mean=15 years)
- Race/Ethnicity — 50% Asian, 30% African American, 10% Latino, and 10% Other
- Gender — 59% Female
- Status — Participants were youth in the Mayor's Youth Employment and Education Program (MYEEP) program.
Location/Institution:
San Francisco, CA
Summary:
(To include basic study design, measures, results, and notable limitations)
This article examines the impact of the MyPath Savings pilot on economically disadvantaged youth participating in a youth development and employment program. Measures utilized include questionnaires regarding socioeconomic measures, financial knowledge and savings knowledge. Results indicate that MyPath Savings is highly relevant to participants' needs. In addition, youth experienced significant increases in financial knowledge, financial self-efficacy, and the frequency with which positive financial behaviors were carried out. Participants also saved an average of $507 through MyPath Savings. Limitations include the lack of comparison group or randomization, the use of study-developed measures without established psychometrics, and the racial/ethnic disproportionality of the subjects.
Length of controlled postintervention follow-up:
None.
