With little reseach on financial tools to help households prepare for financial emergencies, Doorways to Dreams Fund designed a survey to understand LMI consumers’ perceptions of and experiences with emergencies and their insights into product design features that will help them cope. This paper details
On November 18, 2011, over 80 individuals from an array of sectors – including financial services, public policy, government, academia, nonprofits, and start-ups – gathered in Boston, MA for the first-ever prize-linked savings (PLS) conference.
At a time when savings are important, how do we engage consumers in the act of saving and reinstitute a culture of thrift in America? One promising way is to ensure that the act of saving is fun. Prize-linked savings (PLS) models are structured to do exactly that - reward savings behavior to help motivate individuals to save by making it fun.
Prize-linked savings (PLS) products hold great promise as a tool for improving savings outcomes for financially vulnerable Americans. In early 2011, Doorways to Dreams (D2D) Fund commissioned a panel survey of low-to-moderate income (“LMI”) households in five states.
Converting opportunity to impact was the central challenge for the Doorways to Dreams (D2D) Fund and the Savings Bond Working Group (SBWG) as we entered tax season 2011. The result was the Bonds Make it Easy national social marketing campaign, which aims to build awareness and use of the tax time savings bond policy first announced by President Obama in late 2009.
The promising results of the first year of the Savings Bond Tax Time policy only confirm our growing conviction that U.S. Savings Bonds are a good product for new and small savers and that linking the opportunity to tax-time provides a very real opportunity for households to save. Read a detailed account of the results in our new report: Everyone Can Save: Building Saves One Bond at a Time.
The firm ProManage profiled D2D Fund in its PROspective newsletter. ProManage commissioned author Chuck Miller to do a series of interviews with thought leaders who help shape the defined contribution plan industry.
