Summary Frontline healthcare workers – especially direct care workers (DCWs), such as home health aides, struggle due to low pay, lack of benefits, and difficult working conditions. The need for these workers is growing. Unless frontline healthcare jobs improve, positions may be difficult to fill, and care for vulnerable members of society may be compromised. […]
Abstract Objectives: The Advance Premium Tax Credit (APTC) is designed to remedy lack of health insurance due to cost; however, approximately 30 million Americans remain without health insurance, and millions of households leave billions in tax credits unclaimed each year. A prerequisite of APTC is to file one’s taxes; however, few studies have examined tax filing […]
A Trans-Atlantic Policy Forum could bring together academic researchers,
policy makers, advocates, and corporate leaders in the U.S. and U.K. to develop
insights to fuel changes in public policies and corporate behavior to promote the
financial security of low- and moderate-income (LMI) individuals and families.
The Wall Street Journal shares how money received from the student loan forgiveness program will help people achieve other financial goals.
Abstract As the cost of college continues to rise, it has become increasingly important for students to apply for financial aid. However, many students are unaware of the benefits of the Free Application for Federal Student Aid (FAFSA). We launched a field experiment with a non-profit organization to explore how both informational- and testimonial-type text […]
Abstract The combined supply and demand shocks of the COVID-19 pandemic have created the largest consumer behavior shift in recent history, while exposing millions of households to material hardships like food insecurity and housing instability. In this study, we draw on national surveys conducted early in the pandemic to investigate the pandemic’s effects on self-reported […]
The Earned Income Tax Credit (EITC) provides substantial financial support to low-income Universal basic income has gained renewed interest among policymakers and researchers in the U.S. While research indicates that unconditional cash transfers produce diverse benefits for households, public support lags in part due to the predicted unemployment and frivolous As policy-makers grapple with whether […]
The Earned Income Tax Credit (EITC) provides substantial financial support to low-income Universal basic income has gained renewed interest among policymakers and researchers in the U.S. While research indicates that unconditional cash transfers produce diverse benefits for households, public support lags in part due to the predicted unemployment and frivolous spending. To understand how Americans […]
Abstract Prior research shows unemployment has a negative effect on mental health, yet whether this relationship is affected by financial factors is unknown. For example, having money in savings may mitigate the impact of job loss on mental health. We use structural equation modeling with data from the Socio-Economic Impacts of COVID-19 Survey with a […]
Abstract The number of individuals with student loan debt who do not earn their degrees is on the rise; nevertheless, there is little research that demonstrates their current circumstances and future aspirations. We address this knowledge gap by comparing the financial distresses and re-enrollment aspirations of student debt-holders who started college but did not earn […]
Abstract Despite the array of public programs offered to help households mitigate the economic impacts of the COVID-19 pandemic, many still needed to rely on savings, credit, or other assets to make ends meet. This reality may exacerbate existing social and economic inequities because racial and ethnic minorities often have lower access to assets and […]
We know that liquid assets provide a safety net for short-term financial well-being, but how can we transition from short-term financial stability to longer-term financial health? Researchers, Jeremy Burke, Stephen Roll and Emily Gallagher shared their findings on the mitigation effect of liquid assets during a financial shock, the leading factors that contribute to long-term […]
Abstract Stable and adequate housing is critical in the midst of a pandemic; without housing, individuals and families cannot shelter in place to prevent the spread of disease. Understanding and combating housing hardships in vulnerable populations is therefore essential to a sound public health response. This study aims to explore the pandemic’s disproportionate impacts on […]
The concept of universal basic income (UBI) first gained traction in the United States in the 1960s Civil Rights Movement and again recently due to the 2008 recession and COVID-19 pandemic. Still, the idea lags in popularity in comparison to existing cash transfer policies like the Earned Income Tax Credit and COVID relief packages. We […]
The financial technology (fintech) sector has grown rapidly in recent years. Awareness and use of fintech has grown as companies in this sector have increased their user-friendly design, convenience, and accessibility. A unique fintech niche that has developed rapidly alongside the overall industry is known as “employer-channel fintech.” Offered by employers, these solutions or benefits […]
In this study, we examined Onward, an employer-based mobile app that enables workers to save via payroll deduction and receive financial education and coaching as a means to address financial challenges such as difficulty paying bills on time, managing debt, and accruing savings. An important feature of Onward is that employees can save automatically through […]
In this study, we examined HoneyBee, a service company that provides access to 0% APR loans and financial coaching through the workplace. HoneyBee aims to offer employees in need a more affordable credit alternative to payday and auto title loans and therefore help addressing significant cash flow emergencies. Data for this exploratory study included 65 […]
In this report, we explore employee usage trends of Brightside, an employee financial health platform that is designed to improve the financial health of working families. Using this platform, employees can open “cases” to address a financial need or goal they have. Brightside connects these employees with financial assistants who, in turn, connect the employees […]
This study examines how demographic, financial, and intrinsic personality characteristics predict household participation in Israel’s Child Development Account (CDA) program, the Savings for Every Child Program (SECP).
The University of Colorado Boulder announces SPI’s recent study showing that families with access to Medicaid are able to increase their savings.
This study examines how demographic, financial, and intrinsic personality characteristics predict household participation in Israel’s Child Development Account (CDA) program, the Savings for Every Child Program (SECP).