Statistics show us that most American families are ill-prepared to handle unforeseen expenses:
- 47% of families say their savings would last them 3 months or less
- 34% of consumers have no savings at all
- 56% of households wouldn’t be able to cover an $400 unforeseen expense
- 37% of American families live in liquid asset poverty
When faced expenses they cannot meet most families turn to high-interest predatory loans or forgo necessary home and auto maintenance, or medical care. Studies show that savings can help cushion against unforeseen expenses and increase the financial resiliency of households. Helping our clients start saving can go a long way to helping them secure their financial future. Help us put the “Save It” in Earn It! Keep It! Save It!
Client Incentives: Clients have two opportunities to WIN big when they SAVE part of their refund. If your client savings at least $50 via split refund using Form 8888), here is what you should do:
- Give a savings bag to every taxpayer that saves a part of their refund (1 minute).
- Enter your taxpayer into the local EKS Savings Raffle to win $100 — surveymonkey.com/r/saveraffle (3 minutes): Takes 3 minutes! You will need to enter the client’s: first and last name, phone number, email, tax site name
- Enter them into the national “Save Your Refund” drawing — SaveYourRefund.com (5 minutes):
For weekly raffle, you will need:
1.Contact Info – First and last name, Phone number AND/OR email, Zip code, State of Residence, Tax preparation site
2.Savings Info – Total amount of refund, Amount deposited in each account, Type of each account used, Amount used to purchase bonds (if applicable)
For Grand Prize Photo Contest, you will need everything above plus a photo and a caption.