Center on Assets, Education, and Inclusion

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In this study, we propose that children who have a savings account may be more likely to have higher math scores than children without a savings account. We find that children’s savings accounts are positively associated with math scores. Children with savings accounts on average score almost nine percent higher in math than children without a savings account. Further, results suggest that children’s savings accounts fully mediate the relationship between household wealth and children’s math scores. However, household wealth moderates the mediating relationship. We find math scores of low-wealth children increase by 2.13, middle-wealth children’s increase by 4.36, while high-wealth children’s increase by 6.59 points. Policy implications are discussed.


Elliott, W., Jung, H.*, and Friedline, T.* (2010). Math achievement and children’s savings: Implications for child development accounts. Journal of Family and Economic Issues, 31(2), 171-184.

Children's Savings Account Journal Article Year 2010