Behavioral interventions to increase tax-time saving: Evidence from a national randomized trial

Too many households have too little set aside for emergencies, long-term goals, or retirement. This study presents evidence from the Refund to Savings Initiative, a large-scale randomized experiment testing interventions to increase household savings by encouraging filers to set aside a portion of their tax returns. Grounded in techniques of behavioral economics, these interventions are […]

The role of choice architecture in promoting saving at tax time: Evidence from a large-scale field experiment

Tax refunds give many low-and moderate-income (LMI) households a rare opportunity to save for unexpected expenses. We conducted three experiments aimed at increasing tax-time savings by LMI consumers. In a large field experiment, the most effective intervention increased the average savings deposits by about 50%. Delivered as people filed taxes online, this treatment consisted of […]

Refund to Savings 2013: Comprehensive report on a large-scale tax-time saving program

Improving the financial security of low- and middle-income households through the savings of federal tax refunds is the central mission for the Refund to Savings (R2S) initiative. It is important to understand the context in which those households are trying to save and the methods of coping with contingencies when savings are not available. Such […]