All Title Author
Keywords Abstract

Publish in OALib Journal
ISSN: 2333-9721
APC: Only $99


Relative Articles


What Are Characteristics of Tangible Hope? A Guaranteed Income and Asset Experiment in Saint Paul, MN/A Children’s Savings Account Program

DOI: 10.4236/sm.2024.141006, PP. 95-120

Keywords: Children’s Savings Accounts, Financial Needs, Guaranteed Income, Baby Bonds

Full-Text   Cite this paper   Add to My Lib


The City of Saint Paul’s CollegeBound Boost (Boost for short) program is the first to test combining Children’s Savings Accounts (CSAs) with a monthly guaranteed income payment ($500 per month; income support) and targeted quarterly CSA deposits ($250 per quarter; asset support) to families living at 300% of the poverty line or below. The current study examines how Boost participants perceive fulfilling their current and future needs with income and assets. We also explore how Boost study participants describe the concept of tangible hope for their family’s future. Semi-structured interviews with 32 Boost participants reveal that families perceive income’s role in meeting their current needs and using assets to prepare for their future needs. Study participants also described five characteristics that may better help define what tangible hope consists of: 1) a sense of comfort/security about the future, 2) a future that is brought into clearer focus, 3) a future that is attainable on some level, 4) a sense that one has a stake in the future, and 5) a sense that something more is possible (i.e. increased ability to hope). A policy implication of this study is that families participating in programs that combine present income and future asset strategies (such as Boost) might help families perceive their future as more secure and attainable with a clearer focus and realize they have a greater stake in their


[1]  Ajzen, I., & Madden, T. J. (1986). Prediction of Goal-Directed Behavior: Attitudes, Intentions, and Perceived Behavioral Control. Journal of Experimental Social Psychology, 22, 453-474.
[2]  Bandura, A. (1997). Self-Efficacy: The Exercise of Control. W.H. Freeman.
[3]  Bernardo, A. B. I. (2010). Extending Hope Theory: Internal and External Locus of Trait Hope. Personality and Individual Differences, 49, 944-949.
[4]  Bernstein, J. (2005). Critical Questions in Asset-Based Policy. In M. Sherraden (Ed.), Inclusion in the American Dream (pp. 351-359). Oxford University Press.
[5]  Cisneros, J., Clancy, M. M., Elliott III, W., Feinstein, A., Kanter, M., Karcher-Ramos, M., Kugler, C., Peachey, J., Quint, C., Shapiro, T. M., & Sherraden, M. (2021). The Case for a Nationwide Child Development Account Policy: A Policy Brief Developed by CDA Experts and Researchers (CSD Policy Brief No. 21-20). Washington University, Center for Social Development.
[6]  Colla, R., William, P., Oades, L., G., & Camacho-Morles, J. (2022). “A New Hope” for Positive Psychology: A Dynamic Systems Reconceptualization of Hope Theory. Frontiers in Psychology, 13, Article 809053.
[7]  Danziger, S., & Plotnick, R. (1986). Poverty and Policy: Lessons of the Last Two Decades. Social Service Review, 60, 34-51.
[8]  de Soto, H. (2000). The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else. Basic Books.
[9]  Deterding, N. M., & Waters, M. C. (2021). Flexible Coding of In-Depth Interviews: A Twenty-First Century Approach. Sociological Methods & Research, 50, 708-739.
[10]  Elliott, W. (2022, May). Economic Security from an Asset Perspective (CSD Perspective No. 22-XX). Washington University, Center for Social Development, and University of Michigan, Center on Assets Education, and Inclusion.
[11]  Elliott, W. (2023, March). Unleashing the Power of Children’s Savings Accounts (CSAs): Doorway to Multiple Streams of Assets. University of Michigan, Center on Assets, Education, and Inclusion.
[12]  Elliott, W., Choi, E. H., Destin, M., & Kim, K. (2011). The Age Old Question, Which Comes First? A Simultaneous Test of Young Adult’s Savings and Expectations. Children and Youth Services Review, 33, 1101-1111.
[13]  Elliott, W., Jones-Layman, A., O’Brien, M., & Dombro, A. (2023). “Freedom to Think What Could Be Best for Our Family”: A Guaranteed Income Experiment in CollegeBound St. Paul/A Children’s Savings Account Program. Sociology Mind, 13, 271-307.
[14]  Emmons, R. A. (1986). Personal Strivings: An Approach to Personality and Subjective Well-Being. Journal of Personality and Social Psychology, 51, 1058-1068.
[15]  Goodman, F. R., Disabato, D. J., Kashdan, T. B., & Machell, K. A. (2017). Personality Strengths as Resilience: A One-Year Multiwave Study. Journal of Personality, 85, 423-434.
[16]  Horowitz, J., Igielnick, R., & Kochhar, R. (2020a). Most Americans Say There Is Too Much Economic Inequality in the U.S., but Fewer than Half Call It a Top Priority. Pew Research Center.
[17]  Horowitz, J., Igielnick, R., & Kochhar, R. (2020b). Trends in Income and Wealth Inequality. Pew Research Center.
[18]  Howard, C. (1997). The Hidden Welfare State; Tax Expenditures and Social Policy in the United States. Princeton University Press.
[19]  Huang, J., Kim, Y., & Sherraden, M. (2017) Material Hardship and Children’s Social-Emotional Development: Testing Mitigating Effects of Child Development Accounts in a Randomized Experiment. Child Care Health and Development, 43, 89-96.
[20]  Irving, L. M., Snyder, C. R., & Crowson Jr., J. J. (1998). Hope and the Negotiation of Cancer Facts by College Women. Journal of Personality, 66, 195-214.
[21]  Lazarus, R. S., Deese, J., & Osler, S. F. (1952). The Effects of Psychological Stress upon Performance. Psychological Bulletin, 49, 293-317.
[22]  Lewis, O. (1966). Introduction La Vida: A Puerto Rican Family in the Culture of Poverty—San Juan and New York. Random House.
[23]  Lomas, T., Waters, L., Williams, P., Oades, L. G., & Kern, M. L. (2020). Third Wave Positive Psychology: Broadening towards Complexity. The Journal of Positive Psychology, 16, 660-674.
[24]  Maslow, A. H. (1954). Motivation and Personality. Harper and Brothers.
[25]  McNutt, J. G., & Hoefer, R. (2016). Social Welfare Policy Responding to a Changing World. Lyceum Books, Inc.
[26]  Muwonge, C. M., Schiefele, U., Ssenyonga, J., & Kibedi, H. (2017). Determinants of Persistence among Science Teacher-Trainees: Examining the Role of Self-Efficacy, Task Value, and Academic Hope. Journal of Science Teacher Education, 28, 522-548.
[27]  Neale, W. C. (1987). Institutions. Journal of Economic Issues, 21, 1177-206.
[28]  North, D. (2005). Understanding the Process of Economic Change. Princeton University Press.
[29]  Nussbaum, M. (2000). Women and Human Development: The Capabilities Approach. Cambridge University Press.
[30]  Pleeging, E., van Exel, J., & Burger, M. (2022). Characterizing Hope: An Interdisciplinary Overview of the Characteristics of Hope. Applied Research in Quality of Life, 17, 1681-1723.
[31]  Roosevelt, F. D., & Rosenman, S. I. (1938). The Public Papers and Addresses of Franklin D. Roosevelt. Volume Five, The People Approve, 1936: With a Special Introduction and Explanatory Notes by President Roosevelt. Random House.
[32]  Scheier, M. F., & Carver, C. S. (1987). Dispositional Optimism and Physical Well-Being: The Influence of Generalized Outcome Expectancies on Health. Journal of Personality, 55, 169-210.
[33]  Schreiner, M., & Sherraden, M. (2007). Can the Poor Save? Saving and Asset Building in Individual Development Accounts. Transaction Publishers.
[34]  Sen, A. (1999a). Commodities and Capabilities. Oxford University Press.
[35]  Sen, A. (1999b). Development as Freedom. Oxford University Press.
[36]  Shapiro, T., Meschede, T., & Osoro, S. (2013). The Roots of the Widening Racial Wealth Gap: Explaining the Black/White Economic Divide (pp. 1-7). Brandeis University, Institute on Assets and Social Policy.
[37]  Sherraden, M. (1991). Assets and the Poor: A New American Welfare Policy. M.E. Sharpe.
[38]  Shobe, M., & Page-Adams, D. (2001). Assets, Future Orientation, and Well-Being: Exploring and Extending Sherraden’s Framework. Journal of Sociology & Social Welfare, 28, 109-127.
[39]  Smith, E., Shiro, A. G., Pulliam, C., & Reeves, R. V. (2022). Stuck on the Ladder: Wealth Mobility Is Low and Decreases with Age. Brookings.
[40]  Snyder, C. (2002). Hope Theory: Rainbows in the Mind. Psychological Inquiry, 13, 249-275.
[41]  Snyder, C. R. (1994). The Psychology of Hope. The Free Press.
[42]  Snyder, C. R. (1998). Hope. In H. S. Friedman (Ed.), Encyclopedia of Mental Health (pp. 421-431). Academic Press.
[43]  Snyder, C. R., Harris, C., Anderson, J. R., Holleran, S. A., Irving, L. M., Sigmon, S. T. et al. (1991). The Will and the Ways: Development and Validation of an Individual-Differences Measure of Hope. Journal of Personality and Social Psychology, 60, 570-585.
[44]  United States Census Bureau (2022). Quick Facts.
[45]  United States Census Bureau (2023, June). How the Census Bureau Measures Poverty.
[46]  Vallas, R., & Valenti, J. (2014). Asset Limits Are a Barrier to Economic Security and Mobility: Counterpoductive Policy Deters Hardworking Americans from Saving and Ownership. CAP 20.
[47]  Weis, R., & Speridakos, E. C. (2011). A Meta-Analysis of Hope Enhancement Strategies in Clinical and Community Settings. Psychology of Well-Being: Theory, Research and Practice, 1, Article No. 5.
[48]  Xiao, J. J., & Anderson, J. G. (1997). Hierarchical Financial Needs Reflected by Household Financial Asset Shares. Journal of Family and Economic Issues, 18, 333-355.
[49]  Xiao, J. J., & Noring, F. E. (1994). Perceived Saving Motives and Hierarchical Financial Needs. Financial Counseling and Planning, 5, 25-44.
[50]  Yadama, G., & Sherraden, M. (1996). Effects of Assets on Attitudes and Behaviors: Advance Test of a Social Policy Proposal. Social Work Research, 20, 3-11.


comments powered by Disqus

Contact Us


WhatsApp +8615387084133

WeChat 1538708413