January 24, 2017

Putting the Save in Earn It! Keep It! Save It!

Why Savings Matters?


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 forego 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. 

To help our sites build up a savings program we’ve compiled resources that cover savings basics, best practices, and tools created to help volunteers engage clients. 


Resources

Savings Integration Manual
EKS Savings Webinar

Savings Tracker

Download or order outreach material provided by CFPB
Visit SaverLife to open a savings account and get other resources
Check out a special Savings Webinar hosted by Prosperity Now

Want savings bags? Reaffirm your commitment to putting the save in Earn It! Keep It! Save It! by signing our savings pledge!


Client Incentives

savers card


Clients have two opportunities to WIN big when they Save part of their refund!

  1. EKS Savings Raffle: local savings raffle. Save at least $50, via split refund (Form 8888), and enter to win $100. Winners will be drawn in mid-March and late-April (10 winners total). Link to local EKS Savings Raffle: www.surveymonkey.com/r/saveraffle. Note: You will need to enter the client’s:
    • First and last name
    • Phone number
    • Email
    • Tax site name
  2. National Save Your Refund Drawingwww.SaveYourRefund.com
    • For weekly, 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.

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