Savings

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Empowering More Women to Build Savings

March is Women’s History Month, and March 8 is International Women’s Day. In celebration of women’s achievements and to take strides toward equity, we are devoting this Short-Term Savings Small Group meeting to exploring gender gaps in financial health, with a focus on promoting emergency savings.

New Report Explores Financial Health of Young Adults of Color

Chicago, IL, Sept. 29, 2020 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, in partnership with the GenForward Survey research program from the University of Chicago, today released a new report called “Race, Ethnicity, and The Financial Lives of Young Adults: Exploring Disparities in Financial Health Outcomes.” The report finds […]

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How to Make Savings More Inclusive: A Look at Closing the Savings Gap | Savings Interest Group Small Group

For consumers living paycheck to paycheck, saving money is not an option. Learn how to help foster savings by lowering fees and reducing friction in your customers' user experience. Accuracy and transparency are essential to build customer trust and help them budget to manage cash flow. Adding or removing friction in UX can help determine how well people build savings or access their money.

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.