Global Youth Economic Opportunities Conference
Child Savings Accounts: A Primer
Child Savings Accounts (CSAs) are a promising tool that promote savings starting at a young age. This primer describes the concept of CSAs, various purposes for and features of the accounts, impacts CSAs can have on a child’s development, and obstacles that impede the widespread provision of the accounts.
Author
Global Assets Project of the New America FoundationAbstract
Poverty reduction strategies increasingly focus on the importance of creating financial assets. Child Savings Accounts (CSAs) are a novel and promising tool that builds on that focus by promoting savings starting at a young age. Child Savings Accounts (CSAs) exist as policies, products, and programs, and are being offered by governments, financial institutions, and non-profits for a variety of purposes. This primer describes the concept of CSAs, various purposes for and features of the accounts, impacts CSAs can have on a child’s development, and obstacles that impede the widespread provision of the accounts. By highlighting examples of CSA products, programs and policies, the Global Assets Project aim to demonstrate the breadth of CSAs offered around the world. The primer also addresses frequently asked questions related to CSA design and delivery as well as provides additional resources for those interested in a deeper knowledge of current research and practice around these accounts.
