Asset Building for Children
Millions of American children each year are born into families with negligible savings to invest in their futures. Yet research and practice have shown that family ownership of even a few thousand dollars in assets can give children not only a measure of economic security, but also a transformative sense of possibility and hope for a brighter future. CFED’s Asset Building for Children (ABC) initiatives seek to provide these opportunities to every child in the United States.
Children’s Savings Accounts (CSAs) represent an innovative path toward asset building for all children, particularly those from households of modest means.
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The field of children’s savings is growing quickly. Thousands of children and youth have already begun saving, and new programs being launched will amplify the impact, effectiveness and availability of incentivized children’s savings accounts.
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CFED is opening the door to asset-building opportunities for all children and youth through the development and expansion of children’s savings policy at the federal, state and local levels.
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For more resources on children’s savings programs, visit our Research and Resource Library.
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CFED and a team of its partners led the first national pilot of children’s accounts, the Saving for Education, Entrepreneurship and Downpayment (SEED) Policy and Practice Initiative. SEED was a multi-year project that developed, tested, and implemented matched savings accounts and financial education for more than 1,300 children and youth across the country. The lessons learned in SEED have been instrumental in designing new children’s savings initiatives.
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