Investing in Kids’ Future Pays Off
ANN ARBOR, Mich. — When parents set up long-term savings accounts for college, business start-ups or home ownership, kids feel more financially and emotionally secure, new research shows.
The studies show the importance of families using child development accounts (CDA) as one measure to shift from an overreliance on credit and create a foundation for asset building. In other words, this program encourages households to maintain less debt and more savings. (more…)