Many faces of saving: the social dimensions of Saver Plus

Abstract

Many faces of saving: the Social dimensions of Saver Plus 2011 Eve Bodsworth Research & Policy Centre Brotherhood of St Laurence

CONTENTS

Acknowledgements

3

Summary

3

1.0 Introduction

5

1.1THE SAVER PLUS PROGRAM

5

2.0 Literature review

8

2.1LIFE ON A LOW INCOME 2.2GENDER AND MONEY 2.3INDIVIDUAL FINANCIAL DECISIONS 2.4 BUDGETING AND SAVING 2.5IMPLICATIONS FOR THIS STUDY

8 10 11 12 12

3.0 Method and sample

13

3.1DEMOGRAPHICS OF THE SAMPLE 3.2RESEARCH PARTICIPANTS

13 14

4.0 The social dimensions of saving and budgeting on a low income

15

4.1SAVING AND BUDGETING PRIOR TO SAVER PLUS 4.2SAVING AND BUDGETING AFTER SAVER PLUS 4.3 PARTICIPANTS EXPERIENCES OF THE SAVER PLUS PROGRAM 4.4CONCLUSIONS FROM PARTICIPANT INTERVIEWS

16 22 30 38

5.0 Saver Plus worker surveys

39

5.1 PROGRAM CHALLENGES FOR PARTICIPANTS 5.2 PROGRAM BENEFITS FOR PARTICIPANTS 5.3SUGGESTED IMPROVEMENTS 5.