Savings Innovations

Helping Americans Achieve Financial Opportunities

In July 2014, a Federal Reserve study concluded that the majority of Americans could not afford an unexpected $400 expense unless they borrowed money or sold assets (Report on the Economic Well-Being of U.S. Households in 2013, July 2014).

 

But how can consumers save money when they are struggling to cover monthly expenses?

For over ten years, CFSI has been innovating to answer this question, and we believe the answer lies in a holistic approach. By supporting the design of quality saving products coupled with financial education, CFSI aims to influence consumers’ daily financial behaviors.

To this end, CFSI has conducted research to understand behaviors and approaches in savings and funded new product and digital offerings to help consumers save.

Savings Innovations

Savings is an essential part of consumer financial health. Putting money aside for the future can help consumers manage liquidity challenges, cover unexpected expenses and reach long-term financial goals. Consumers who have a planned savings habit are four times more likely to be financially healthy than those who do not, according to CFSI’s ground-breaking examination of consumer behaviors.

Savings Innovations

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