IDA (Individual Development Account) – Investing in the Future Programme

Under the programme, participants undertook to save a pre-agreed amount each month, which was supplemented by the programme’s own funds at the end of the savings period; they also took part in training courses designed to improve their financial and legal knowledge.

The project’s target group consisted of low-income residents of Bonyhád and the surrounding area, who joined the programme with a specific financial goal in mind – such as renovating their home, buying a computer, obtaining a driving licence or starting a business.

As a result of the project, participants’ financial awareness improved, their willingness to save increased, and the financial situation of several families became more stable.

The long-term aim of the programme, however, was, on the one hand, to demonstrate that conditional forms of support are more effective than the benefits provided under the current social welfare system, and, in line with this objective, to shift the focus from short-term social programmes that merely ensure subsistence to programmes that help those in need achieve financial independence.