Saving and planning for the future can be difficult – if not impossible – for millions of Americans who experience income volatility and lack a savings cushion. Explore the latest insights and outcomes of this $50 million initiative to bring innovative savings tools to financially vulnerable consumers, led by the Social Impact team at BlackRock in collaboration with the Financial Health Network, Commonwealth, and the Center for Advanced Hindsight at Common Cents Lab.
Nearly four in five Americans are living paycheck to paycheck, leaving them exposed to financial shocks that can upend their lives. Building savings can be especially challenging for certain groups, including low-income Americans and people of color. By connecting more people with proven savings solutions, the Initiative’s goal is to help households across America establish a savings safety net.
As an Initiative partner, the Financial Health Network seeks to make a difference in America’s savings crisis. We provide the latest research and insights to help businesses, employers, and policymakers develop and implement effective savings strategies.