Savings
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Savings

Nearly half of Americans don’t have enough savings to cover emergency expenses, and they’re increasingly looking to their workplaces and financial providers for solutions. Helping customers and employees to grow their short-term savings can unlock many benefits for businesses, from earning customer loyalty to boosting workplace productivity. Explore our research and resources to help establish a stronger safety net and a secure financial future for those you serve.

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Financial Health Pulse
 Balancing Today, Building Tomorrow: How Financially Coping Americans Plan, Save, and Invest

Balancing Today, Building Tomorrow: How Financially Coping Americans Plan, Save, and Invest

Even before COVID-19, millions of Americans were struggling financially, with more than half the population classified as Financially Coping. As job losses mount, savings are spent down, household debt grows, and investments shrink during the pandemic, Americans need financial support more than ever. This new research sheds light on how providers can support the saving and investing behaviors of Financially Coping consumers, ultimately improving both their immediate and long-term financial health.

Financial Health Can Be So… Retro

Some of the most popular financial health tools introduced by fintechs actually replicate and automate habits and “life hacks” that many households used successfully before the era of electronic banking and payments. These digital “retronovations” bode well for banks and credit unions seeking to offer services that help their customers while also bringing subscription revenues that lessen institutions’ dependence on penalty fees.

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Savings Solutions

The Financial Health Network’s groundbreaking U.S. Financial Health Pulse offers new insights into consumer saving habits to inform effective product design. In addition, we’re working alongside industry thought leaders to build the next generation of savings products through initiatives like the Savings Project and our own Savings Working Group. Through these efforts, our goal is to help people establish a stronger safety net and a more secure financial future.

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Savings Solutions