Commonwealth and America Saves Announce SaveYourRefund $25,000 Grand Prize Winner

Commonwealth and America Saves are thrilled to announce Ivonne Sonato-Vega of Santa Rosa, Calif. as the 2017 winner of SaveYourRefund’s $25,000 Grand Prize Photo Contest. The SaveYourRefund campaign encourages savings at tax time by offering chances at cash prizes for filers who save at least…

Keep Your Eye On Wal-Mart’s Bold, Brilliant Behavioral Program

Forbes notes the potential that Walmart's Prize Savings holds for the future of banking.

The Gamification Effect: Using Fun to Build Financial Security

Managing personal finances can be stressful, intimidating, and at times simply mystifying. What if gaining financial knowledge, building self-confidence, and taking positive financial action could be as fun and engaging as playing a video game? At Commonwealth, we believe that tools that use fun to …

How to Trick People Into Saving Money

A feature article in The Atlantic looks at how Commonwealth, Walmart, and Green Dot use Prize-Linked Savings to trick people into saving money with the Walmart MoneyCard's Prize Savings feature.

What to do with your tax refund: Here’s the best way to use that check from the IRS

An article from Mic lists options for how to use your tax refund, including entering SaveYourRefund.

Blog Post: Half of All Americans Don’t Have $400 to Spare

Following the Aspen Institute Summit on Inequality & Opportunity, Commonwealth’s Executive Director Tim Flacke shared thoughts on how our work is expanding opportunity and addressing inequality. Aspen Institute has posted Tim’s piece on their blog, addressing the problem that many Am…

9 Smart Ways to Spend Your Tax Refund

NerdWallet lists 9 smart ways to spend your refund, including one way to save it: SaveYourRefund.

Senators reintroduce SAVINGS Act of 2017

Senator Patty Murray (D-WA) and Senator Susan Collins (R-ME) today reintroduced the Save Access to a Valuable Investment Needed to Generate Savings (SAVINGS) Act of 2017, legislation that would preserve the Tax Time Savings Bond program. Since 2010, the Tax Time Savings Bond program has provided tax…

Ways to Save (and Not Spend) Your Tax Refund

New York Times talks to Commonwealth about how tax filers can save their refund.

Preparing for Minimum Wage Hikes

At Commonwealth, we're exploring whether the upcoming minimum wage increase that will impact 13 million employees can be used as an opportunity to encourage employees to start saving and build financial security. There is a great deal of research that shows that emp…

Using Rules of Thumb to Promote Better Financial Decisions

You’ve probably heard that “an apple a day keeps the doctor away,” but why are there are so few simple, effective messages about your finances? Credit unions can build a better relationship with their members by offering these sorts of simple, actionable messages to guide and simp…

Ford Foundation Features Work of Commonwealth

The Ford Foundation published a guest post on their blog, written by Commonwealth Executive Director Timothy Flacke, about the launch of Prize Savings, the first nationwide Prize-Linked Savings (PLS) product on a prepaid card designed by Commonwealth in partnership with Walmart and Green Dot Bank. …

Building Commonwealth in 2017

At the start of a new administration, we are surrounded by change and uncertainty, with more to come. Much of this change is threatening - to our mission, to the people we aim to support, and to our values. Some things, however, have not changed: tens of millions of financially vulnerable peop…

Walmart program: Stash cash in savings account, win prizes

With the help of Commonwealth, Walmart and Green Dot have launched the first national Prize-Linked Savings program, via USA Today.

Prize Savings Brings Prize-Linked Savings Nationwide

Walmart and Green Dot in partnership with Commonwealth today announced the introduction of “Prize Savings,” a Prize-Linked Savings (PLS) incentive program available to the millions of Walmart MoneyCard-holders. “According to The Federal Reserve Board of Governors, nearly half of a…

Commonwealth Launches New Financial Entertainment Site

Commonwealth has launched a new website for Financial Entertainment, a suite of online and mobile financial education video games that teach users concepts including retirement, budgeting, debt repayment, savings, and more. While the site’s front end provides a better user experience and desi…

Prize-Linked Savings Available Nationwide

Prize Savings, a Prize-Linked Savings (PLS) feature of Walmart’s MoneyCard prepaid card, is now available across the country. This means millions of people nationwide now have access to a fun, engaging and rewarding way to build emergency savings. “We saw a growing crisis in the US arou…

Wal-Mart’s Unconventional Approach To Get People To Save: Prizes

NPR's Plant Money podcast covered Walmart's new product, Prize Savings, that brings Prize-Linked Savings to people across the country through the company's prepaid debit card.

Innovations in Student Loan Repayment

Commonwealth is partnering with ASA (American Student Assistance) to test Rules of Thumb for student loan repayment behaviors with recent college graduates. As of 2015, more than 41 million Americans collectively owed a total of more than $1.2 trillion in student loan debt. Nearly 25% of those…

Americans Can Win Big for Saving Money at Tax Time Again in 2017 with SaveYourRefund

In the 2017 tax season, SaveYourRefund will once again offer tax filers the chance to win cash prizes for saving a portion of their tax refunds. Now in its fifth year, SaveYourRefund is a partnership between Commonwealth and America Saves. The SaveYourRefund campa…