EARN Blog

What Did EARN’s Savers Do with Their Tax Refunds? A Little Bit of Everything

In June’s Big Data brief, EARN’s data revealed that after receiving a tax refund, both checking and savings account balances of EARN’s Savers increased. While checking account balances quickly returned to pre-refund levels, savings balances gradually reduced over the next three months but remained 50% higher than pre-refund levels. To understand how Savers used their…

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EARN and CESI Team Up to Upgrade Debt Management with SaverLife

San Francisco, CA – EARN.org is pleased to partner with Consumer Education Services, Inc. (CESI) announce a ground-breaking new product, Debt Management Plan (DMP) Plus. The DMP Plus will give consumers the power to enhance their economic security on two fronts: Through eliminating crippling unsecured debt while building real savings. CESI is able to offer the…

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Savers Win: Leveraging the Tax Time Moment to Boost Savings

“I usually never save my tax refund for anything,” says Jessica Butler, EARN’s Savers Win 2018 Grand Prize Winner. While tax season is one of the most important financial events of the year for America’s working families, most households have already decided where their refunds will be spent before they file. And understandably, savings is…

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You’re invited! Learn how refunds reflect the priorities of EARN’s Savers

Last year, EARN and Commonwealth launched a joint effort to better understand the impact of tax refunds on EARN Savers’ spending habits and whether well-timed interventions could increase savings rates. We learned that people think about their refunds months in advance of receiving any money, that how people save their refunds depends on how that…

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Surfing the Tax Time Wave: How Refunds Impacted Saving and Spending

Tax season has long been viewed as a golden opportunity to help low and moderate-income families build a savings cushion. However, for many families, refunds are pre-allocated to delayed purchases or paying down debt. Even when refunds are saved for emergencies, they’re often quickly depleted. This isn’t necessarily a bad thing – 50% of EARN’s…

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EARN.org & Commonwealth Announce Winner of National Tax-Time Savings Competition

Of 9,545 tax-savings pledges, Greenville resident won $5,000 Grand Prize Competition June 22, 2018 – Greenville, South Carolina – Savers Win, a nationwide tax season savings program run by nonprofits EARN and Commonwealth, has named Greenville resident Jessica Butler the winner of the Grand Prize Story Competition. Savers Win, a limited-time promotion, was created to…

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Checking vs. saving: Where should Savers stash their cash?

EARN’s mission is to create prosperity for working families by helping them save and invest in their futures. Absent from our mission statement is a mandate on how families should approach saving. While we believe in building a habit of saving, we take a hands-off approach when it comes to where families should stash their…

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Local Families Save $1M with SaverLife San Francisco

1,000+ Bay Area residents signed up and saved an average of $860 each over six months SAN FRANCISCO, CA, May 15, 2018—Bay Area residents saved a million dollars with SaverLife, a digital platform transforming the way low-to-moderate income families use financial technology to save money. From June-September of 2017, more than 1,000 people signed up…

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Income Swings: A Monthly Roller Coaster

I’m Tim, and I couldn’t be happier to be EARN’s new Director of Research. I’ve spent my career working across sectors and industries turning data into insights, and in the last few years I’ve been focusing on how to use data to advance the financial health of America’s working families. I’m excited about EARN’s potential…

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100,000 Members and the Meaning of (Saver)Life

We just hit a major milestone: 100,000 members have now joined SaverLife. This is cause for celebration. EARN is proving the strong demand for savings products specifically designed to meet the needs of low-income consumers. We think our members would agree – almost 90% of Savers report that they are putting aside money in savings…

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