Survey of former IDA program participants:

1
Survey of former IDA program
participants How do they fare? Cäzilia
Loibl Assistant Professor, Department of Consumer
Sciences Beth Red Bird The Ohio CDC Association
2
Goal Objectives

• Goal
• To explain the long-term outcomes of
  participation in an IDA program.
• Objectives
• Does IDA program participation help individuals
  to achieve long-term savings?
• What factors affect long-term savings?
• How do successful program participants differ
  from those who left the program prior to
  completion?

3
Economic Factors

• Current standard of living
• Income, employment
• Access to financial instruments, debt

Social Factors
Long-term Savings

• Situations of family economic strain
• Political affiliation

Psychological Factors

• Capability for attaining goals
• Consideration of future consequences
• Ability to control impulsive behavior

Demographic Factors

• Sex, race, age
• Education
• Marital status, number of children

4
Survey contacts
5
Survey response rate
6
Asset distribution
7
(No Transcript)
8
(No Transcript)
9
Ownership of financial products
10
Housing problems
11
Reasons for leaving the IDA program
12
Correlations with household savings
Note Significant at plt.01, Significant at
plt.05, Significant at plt.10
Pearsons correlation coefficient
only significant coefficients shown

13
Correlations with future orientation
14
Correlations with self-efficacy
15
Correlations with self-control
16
Correlations with financial strain


17
OLS Regression Model for Predicting Household
Savings Note Only coefficients of the final
model shown in stepwise model reduction process
Significant at plt0.100, Significant at
plt0.050, Significant at plt0.010,
Significant at plt0.001
18
Current IDA Research Projects
Survey research The geographic settings of asset
building Defining barriers to IDA program
participation --Funded by OSU Center for Urban
and Rural Analysis --Partners David Kraybill,
Ohio State University Qualitative
research Homeownership experience of low-income
women --Funded by OSU Dept. of Women Studies,
Critical Difference for Women grant --Partner
Stefanie Sonnenberg, University of Exeter, UK
Ohio CDC Association Field experiments Strategie
s to improve retention and savings in IDA
programs --Funded by the National Poverty Center
at University of Michigan --Partners George
Loewenstein, Emily Haisley, Carnegie Mellon
University Curriculum development Using
principles of behavioral economics in financial
counseling --Funded by OSU Extension Venture
Grant --Partners OSU Extension field faculty
19
Cäzilia Loibl, Ph.D., CFP Assistant
Professor Department of Consumer SciencesThe
Ohio State University265 N Campbell Hall 1787
Neil AvenueColumbus, Ohio 43210 Phone
614-292-4226Email loibl.3_at_osu.edu Visit
http//hec.osu.edu/people/cloibl/projects.htm