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The InCharge Education Foundation COPE™ Scale

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Financial Education and Savings Outcomes in Individual Savings Accounts

A key difference between IDAs and other subsidized-savings programs is that IDAs require financial education.

This study is the first quantitative look at the effects of financial education on savings outcomes in IDAs. The results seem to suggest that a few hours of general financial education increases saving a lot, although the effects may diminish or reverse as hours increase.

 

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