Can Financial Education Reduce Food Insecurity? Evidence from an Asset-Building Program for Families in Poverty
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Date
2016-05-03
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Ohio State University. Office of Outreach and Engagement
Abstract
This study examines food insecurity among children of participants in a federally funded, intensive financial education program in the United States, the Individual Development Account (IDA) program. The goal was to evaluate the effectiveness of program participation in reducing food insecurity. The characteristics of IDA program families match closely the demographics of food insecure households: female-headed, single-parent families; African American and Hispanic families; families with lower educational attainment and a higher number of children.
Description
IMPACT. 1: Our first finding is that food insecurity is high among IDA program families: 21% of current and former IDA program families report high or very high food insecurity for their children, compared to 9.9% of the general population. -- 2. Food insecurity is not lower among those who successfully complete the program, despite intensive training in financial management, budgeting, and saving provided in the IDA program. -- 3. Examining predictors of children's food insecurity, we find a higher financial literacy score to increase the odds of children's food insecurity. Other factors such as frugal behavior, lower material deprivation, and higher subjective well-being are, as expected, associated with lower odds of children's food insecurity.
OSU PARTNERS: College of Education and Human Ecology; Department of Human Sciences Consumer Sciences Human Development and Family Study
COMMUNITY PARTNERS: CASA of Oregon; Utah IDA Network; Prosperity Works New Mexico; United Way of Central Alabama; Economic and Community Development Institute, Ohio; Covenant Community Capital, Houston, Texas; Capital Area Asset Builders, Washington, DC
PRIMARY CONTACT: Caezilia Loibl (loibl.3@osu.edu)
OSU PARTNERS: College of Education and Human Ecology; Department of Human Sciences Consumer Sciences Human Development and Family Study
COMMUNITY PARTNERS: CASA of Oregon; Utah IDA Network; Prosperity Works New Mexico; United Way of Central Alabama; Economic and Community Development Institute, Ohio; Covenant Community Capital, Houston, Texas; Capital Area Asset Builders, Washington, DC
PRIMARY CONTACT: Caezilia Loibl (loibl.3@osu.edu)
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Citation
Engaged Scholars, v. 4 (2016).