Increasing Youth Financial Capability: A Subsample Analysis of Asian American and Pacific Islander Participants in the MyPath Savings Initiative

This article examines the impact of the MyPath Savings pilot on 274economically disadvantaged youth participating in a youth development and employment program in San Francisco, California, with a subsample analysis of Asian American and Pacific Islander (AAPI) participants. My-Path Savings targets youth earning their first paycheck to promote savings and connect youth with mainstream financial products. AAPI youth experienced significant increases in financial knowledge, financial self efficacy, and the frequency with which positive financial behaviors were carried out. AAPI participants also saved an average of $566 through My-Path Savings. Gains in financial capability were mostly independent of the youths’ race, gender, household income, and public benefits receipt.