Using Individual Development Accounts (IDAs) To Sustain Homeownership and Foster Financial Skills, Practices, and Self-Efficacy
Now, more than ever, saving for a down payment and the sustainability of homeownership are crucial. This study presents data on an effective savings program for low-income individuals and families—Individual Development Accounts (IDA). In this study, 93% of the participants in the intervention program reported making their mortgage payment without any difficulty, and 98% said that after paying their mortgage, they had enough money left for other non-shelter necessities. The study also showed statistical differences in financial skills and efficacy when IDA participants were compared to a control group. The IDA group felt much more confident in their financial skills than did the control group and was more likely to set and achieve their financial goals.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Article Media
Document Type: Research Article
Publication date: June 1, 2015
More about this publication?
- The Journal of Family & Consumer Sciences is the official publication of the American Association of Family & Consumer Sciences (AAFCS).
Each issue of the Journal contains the following professional and exclusive features:
- Scholarly peer-reviewed articles
- Practical information geared toward family and consumer sciences professionals
- News and information about AAFCS
In response to member feedback, the Journal now presents more columns and articles on trends and developments in the field, best practices, resources, and opinions. The Journal features knowledge gained from the research and academic arenas and focuses on how this knowledge can be applied by practitioners in the field.
The Journal is published four times a year: Winter (late January), Spring (mid- April), Summer (mid-August), and Fall (mid-November). It is indexed by the Family Index Database, Family and Society Studies World Wide, and the Educational Resources Information Center (ERIC). All AAFCS members receive a subscription to the Journal.
For information about joining AAFCS, which includes a subscription to this journal, visit the AAFCS website links below and click on Membership . Nonmembers and institutions can subscribe to the Journal of Family & Consumer Sciences through IngentaConnect by selecting the Purchase Subscription link below. Individual issues and articles can also be purchased by browsing to the issue or article pages.
- Editorial Board
- Information for Authors
- Submit a Paper
- Subscribe to this Title
- Membership Information
- Information for Advertisers
- Ingenta Connect is not responsible for the content or availability of external websites