Reports

SaveYourRefund 2013

This report details findings from the first year of SaveYourRefund, a national promotion that used prizes and fun to incentivize taxpayers to save during the 2013 tax season. The promotion aimed to educate filers about Form 8888 and encourage them to save a portion of their tax refund into a savings…

Paving the Way Forward: Savings On Prepaid Cards

This paper reviews a collaboration between D2D and Banking Up to design and evaluate an emergency savings feature on their UPside prepaid card, providing insight into the potential impact on consumers and prepaid card providers. Given the limited access and availability of savings products and the widespread availability and use of prepaid cards, particularly by underserved consumers, this paper makes the case for offering savings on a prepaid card. For consumers, access to savings on prepaid cards can help close the savings gap, making savings accessible, easier and less costly. For prepaid card providers, the addition of a savings offering has the potential to enhance the value to consumers, strengthening both engagement with and the longevity of their cards.The work discussed in this report uniquely focuses on:An emergency frame - Exploring an emergency savings offering on a prepaid card. Active consumer engagement - The design of a savings feature focused on actively engaging consumers, especially underserved ones, in savings. Careful evaluation - An evaluation to share with the marketplace the potential impact of the savings feature on both consumers and prepaid card providers.

This paper reviews a collaboration between D2D and Banking Up to design and evaluate an emergency savings feature on their UPside prepaid card, providing insight into the potential impact on consumers and prepaid card providers. The work discussed in this report uniquely focuses on: 1) An emergency …

Prep for Change: Improving Financial Capability Through Standardized Testing

Changing the context of standardized college-admissions tests (like the ACT or SAT) or state-wide exit exams could create a student-driven desire to learn about personal finance in a practical, doable, and scalable way. This paper explores the need for financial literacy in high school and explains …

Building Financial Security Through Fun

This paper provides results and insights from the first Save To Win (STW) expansion experience in Nebraska with some highlights from one of the newest states to launch, North Carolina. Additionally, it compares the prize structures in each of the four STW states to draw out key differences that may …

A Winning Proposition: Creating Economic Opportunities Through the State Lottery

This paper discusses the opportunity for a state government backed savings product offered through the lottery channel, making the case for the role of government in savings, the potential of the lottery channel for offering such a product, the impact of a lottery-based savings ticket on consumers, …

Spurring Innovation Via Public Challenge

The contest challenged Americans to submit their most innovative ideas and designs to one or both parts of the Challenge, the IdeaBank, which captured 140-character ideas and the App Design Challenge, which allowed submitters to upload more detailed explanations for an app, articulating a plan for t…

Can Games Build Financial Capability?

This report explores D2D's current thinking about how casual financial literacy video games can lead to improvements in financial capability. With a foreword by Peter Tufano, Chairman of D2D Fund and the Peter Moores Dean, University of Oxford's Sa

Playing the Savings Game: A Prize-Linked Savings Report

This report shows how, in just three years, prize-linked savings (PLS) products in Michigan & Nebraska credit unions have accumulated over $40 million in savings. PLS leverages behavioral principles to invigorate saving, a traditionally difficult and mundane activity, by rewarding consumers with…

2012 Savings Bond Report

The 2012 Savings Bonds Report provides summary data on the third year of the Tax Time Savings Bond policy, in which over 35,000 people saved $20.3 million in savings bonds. The report also makes the case for the need to preserve the policy, which is currently under threat. The compilation of case st…

Product Innovation to Help LMI Consumers

With little reseach on financial tools to help households prepare for financial emergencies, Doorways to Dreams Fund designed a survey to understand LMI consumers perceptions of and experiences with emergencies and their insights into product design features that will help them cope. This paper deta…

Prize-Linked Savings And Financially Vulnerable Americans

Prize-linked savings (PLS) products hold great promise as a tool for improving savings outcomes for financially vulnerable Americans. In early 2011, Doorways to Dreams (D2D) Fund commissioned a panel survey of low-to-moderate income (LMI) households in five states. The objectives of this survey were…

2011 Savings Bond Report

Converting opportunity to impact was the central challenge for the Doorways to Dreams (D2D) Fund and the Savings Bond Working Group (SBWG) as we entered tax season 2011. The result was the Bonds Make it Easy national social marketing campaign, which aims to build awareness and use of the tax time sa…

Everyone Can Save: Building Savings One Bond At A Time

The promising results of the first year of the Savings Bond Tax Time policy only confirm our growing conviction that U.S. Savings Bonds are a good product for new and small savers and that linking the opportunity to tax-time provides a very real opportunity for households to save. Read a detailed ac…

Save to Win 2009

This paper reports on the outstanding results of the Save to Win Pilot- 2009. The results of this unique demonstration confirm our growing conviction that a well designed and implemented prize-linked savings product will appeal to consumers and generate new savings.

Yes We Can: Inclusive Saving at Tax Time

The results are in for the Tax Season 2009 Savings Bond Pilot, which builds on results from two previous pilots to show a strong preference for saving at tax time using U.S. Savings Bonds.

Returning America to Thrift

The failure of most Americans to save adequately has profound national implications. Perhaps of greatest concern is the impact inadequate savings will have on lower income households. Families with little or no savings to protect them in case of health problems or job loss, or to invest in an educat…

Prize-Based Savings: Product Innovation to Make Saving Fun

What if winning prizes while saving money could transform saving into something exciting? Linking the fun of winning cash and prizes with the virtues of saving money, prize-based savings is a new concept in the United States, but is an ancient and common practice around the globe. Ironically, anothe…

Consumer Demand for Prize-Linked Savings: A Preliminary Analysis

This paper reports on a small-scale survey of the potential American demand for prize-linked savings accounts, an account that awards prizes as part of the saving product's return. In October 2006, Centra Credit Union launched a prize-linked savings pilot. As part of that initiative, we conducte…

A Picture in Your Mind’s Eye: How LMI Individuals See Money and Savings

We began the process of applying the ZMET research within the financial services industry, starting with credit unions. Over the summer and fall of 2007, we completed a review of credit union imagery and messaging related to savings account promotions. Our final sample includes 107 images from …

Saving whilst Gambling: An Empirical Analysis of U.K. Premium Bonds

For over three centuries and across the globe, lottery-linked savings (LLS) programs have offered individuals the opportunity to save, and in lieu of paying traditional interest, have given savers periodic chances to win money or prizes. Despite their long history, LLS programs are relatively unstud…