NEW DATA - Teens in Poor Nations Seek to Save More Money For the Future

article | July 30, 2012

    Clara Hogan Jamie Zimmerman

Teens in poor nations want to save larger amounts of money over the long-term in secure places to pay for their education or to start a small business, which can be used to bump them up into a better set of opportunities, according to new research released last week by the YouthSave Initiative.

The Initiative — led by Save the Children in partnership with New America’s Global Assets Project, the Center for Social Development at Washington University in St. Louis, and the Consultative Group to Assist the Poor (CGAP) — released six papers last week detailing how teens in poor countries, an often-ignored but potentially lucrative market segment, can benefit from developing formal savings habits early on in order to get out of poverty and on a path to financial independence.

The papers were presented at an event on July 26th at New America. For more information or to watch the webcast, please click here.

“Contrary to popular belief, the latest data coming out of YouthSave tell us that youth – a massive and vulnerable segment we have been ignoring for so long – have money and want to use it wisely," said Jamie Zimmerman, Director of the Global Assets Project at New America. "We now face an incredible opportunity to create the access and tools necessary to enable positive financial behaviors and, ultimately, sound financial futures for the next generation of productive citizens."

Key findings from the six papers include:


  • Photo of Clara Hogan

    Clara Hogan

  • Photo of Jamie Zimmerman

    Jamie Zimmerman