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 […]
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Do tax-time savings deposits reduce hardship among low-income filers? A propensity score analysis
A lack of emergency savings renders low-income households vulnerable to material hardships resulting from unexpected expenses or loss of income. Having emergency savings helps these households respond to unexpected events, maintain consumption, and avoid high-cost credit products. Because many low-income households receive sizable federal tax refunds, tax time is an opportunity for these households to […]
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 […]