Well-Being of Arkansas & New Mexico Participants: A Longitudinal Study

1. Well-Being of Arkansas & New Mexico Participants: A Longitudinal Study CFED September 2010 Dr. Kameri Christy-McMullin Dr. Marcia Shobe University of Arkansas School of Social Work kmcmull@uark.edu

2. Understanding the Study • Funded by the Ford Foundation • Quasi-experimental, bi-state (Arkansas & New Mexico), longitudinal study (N= 904) • IDA participants (n=619, 69%) • Non-IDA participants (n=239, 26%) • IDA exiters (n= 46, 5%) • Baseline data collected October 2006-2008 • IDA program start-up took longer than anticipated • Currently collecting Waves 3 and 4 data

3. Research Questions • At baseline, after controlling for demographic, human capital and income variables, do financial assets contribute to (a) general health, (b) mental health, (c) self-efficacy, (d) economic strain, (e) social support and (f) intimate partner violence? • To what degree does self-selection into an IDA program influence well-being outcomes for IDA participants?

4. Research Questions • In what way do IDA program exiters resemble either IDA program graduates or non-IDA participants? • After controlling for differences in demographic and outcome variables at baseline, do IDA program graduates have better well-being outcomes than either IDA-program exiters or non-IDA program participants?

5. Theoretical Frameworks Diverse theoretical foundation to reflect a holistic lens through which IDAs, well-being, social and economic development is viewed. • Behavioral Economics • Resource Theory • Social Inclusion Theory • Feminist Theory • Social Change Theory

6. Variables/Outcomes • Demographics: gender, age, marital status, race, ethnicity, number of children, income • Human Capital: highest level of education attained, recent courses/training, employment status, health insurance • Financial Assets: homeownership, business ownership, non-IDA savings account • Outcomes: health, mental health, intimate partner violence, social supports, financial stability, self-efficacy and economic strain

7. Outcome Measures - Scales • Social Capital: Medical Outcomes Study Social Support Survey (subscale) • Financial Capital: Family Economic Strain Scale (FESS) • Self-Efficacy (4-item scale) • General Health (SF-12v2-subscale) • Mental Health (SF-12v2- subscale) • IPV- based on Power & Control Wheel (physical, verbal, sexual, economic , and any abuse)

8. Current Status of Study • All of Wave 1 data have been collected: • Baseline differences between IDA and non-IDA program participants? • Controlling for demographics, human capital, and income, dofinancial assets predict increased well-being? • All of Wave 2 data have been collected: • Controlling for baseline differences, demographics, human capital, and income, do financial assets predict better levels of well-being? • Most of Wave 3 data have been collected. • 30% of Wave 4 data have been collected.

9. Brief Summary of Findings Wave 1(N=904), IDA v. non-IDA members: • IDA participants had better or higher levels of education, employment, homeownership, business ownership, non-IDA savings, reported health, andsocial supports than non-IDA participants.* • However, IDA participants reported significantly higher levels of economic strain than non-IDA participants.* * Only statistically significant differences reported * Shobe, Christy-McMullin, Murphy-Erby, Jordan, Hamilton & Givens, 2010

10. Brief Summary of Findings Wave 1- controlling for demographics, human capital and income, do financial assets predict better levels well-being? • For general health, including financial assets in the regression increased adjusted R2 from 10.5% to 11.5% (p = .007).* • For economic strain, adding financial assets increased R2 significantly from 10.5% to 11.7% (p = .004).* *Shobe, Christy-McMullin, Hamilton, Murphy-Erby, Denny & Givens (in progress)

11. Brief Summary of Findings Wave 2 (N=483)- examined IDA participants, IDA exiters & non-IDA participants. • 57% of IDA & 44% of non-IDA members responded. • IDA members report better or higher levels of education, income, business ownership, non-IDA savings accountsandgeneral health. • However, IDA members experienced higher levels of economic strain than non-IDA members. * Only statistically significant differences reported

12. Brief Summary of Findings Wave 2 (n=483)- examining IDA members, IDA exiters & non-IDA members. • IDA exiters report twice the rate of feeling depressed as IDA or non-IDA participants. • African Americans have highest rate of exiting IDA program. • IDA exiters report 4 times more physical abuse than IDA participants and twice that of non-IDA participants. * Only statistically significant differences reported

13. Brief Summary of Findings Wave 2 - examining IDA members, IDA exiters & non-IDA members • 2/3 exiters left IDA program because not able to deposit money as required by program rules. • IDA members have higher levels of self-efficacy than non-IDA participants. • 35% IDA participants purchased asset at Wave 2; 97% retained that asset. * Only statistically significant differences reported

14. Brief Summary of Findings One Year Later: Wave 1 and 2 Comparisons: Controlling for Wave 1, demographics, human capital and income, do financial assets predict better levels of well-being for IDA participants? • Levels of self-efficacy decreased. • Economic strain increased. • IPV (physical abuse) decreased at Wave 2. • Savings account balance positively related to self-efficacy and economic strain. * Only statistically significant differences reported

15. References Shobe, M.A., Christy-McMullin, K., Hamilton, L., Murphy-Erby, Y., Denny, G & Givens, A. (in progress). Personal and Social Well-Being: What Are Financial Asset Contributions? Shobe, M.A., Christy-McMullin, K., Murphy-Erby, Y., Jordan, S., Hamilton, L., & Givens, A. “Relationships between Household Assets and Individual Well-Being: Preliminary Findings from 904 Low-Income Participants in Arkansas and New Mexico,” Paper presentation, International Conference for Academic Disciplines, Orlando, Florida, March 2010.