Developing Financial Capability through IDA Saving Clubs
Developing Financial Capability through IDA Saving Clubs
The saving club is one of the oldest and most prevalent financial institutions in the world, offering its members the social support to commit to and achieve financial goals. This chapter presents research on how saving clubs in Individual Development Account programs can promote financial capability by providing a sustained, experiential learning environment in which participants engage in critical reflection of their own financial behaviours and attitudes. Challenges and recommendations for increasing effectiveness are discussed.
Keywords: financial literacy, financial capability, asset building, peer support
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