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Administration for Children and Families US Department of Health and Human Services
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Office of Community Services -- Asset Building Strengthening Families...Building Communities

Youth Individual Development Accounts

Focus:

The call focused on special considerations for AFI Projects that focus on youth saving in IDAs.

Key Points:
  • Financial education and other training needs to be tailored to the circumstances and learning styles of youth. in both content and delivery.
  • There are numerous "off the shelf" curricula already available that present money management concepts in ways that youth will appreciate.
  • Youth are likely to need a slightly different mix of supportive services to be successful, such as academic counseling, time management, employment assistance, and transportation.
  • Discussion included relationships with parents and other adults in the savings process, the savings account structure, what sources of savings are allowed under AFI and where and how to recruit youth participants.
Presenters:
  • James Gatz, Manager, Assets for Independence Program, Office of Community Services
  • Mimi Frusha, Juma Ventures, San Francisco, California
  • Mario Resendiz, City of San Antonio, San Antonio, Texas
  • Kimberly Zimmerman Rand, YouthBuild, Somerville, Massachusetts
  • Rachel Banov, Assets for Independence Resource Center
Resources:
  • Financial Education Resources for Young Savers (.doc 124KB) (.pdf 36KB)
  • Strategies for Youth AFI Savers (.doc 163KB) (.pdf 166KB)

For more information on this topic, please contact the Assets for Independence Resource Center: http://www.acf.hhs.gov/assetbuilding; info@idaresources.org; 1-866-778-6037.