Commonwealth Brand Story

Rules of Thumb Toolkit

This toolkit focuses on the design of rules of thumb (ROTs), simple, actionable guidelines that can help consumers with financial decision-making. If designed well, they are easy for consumers to remember and clearly communicate the action required. This toolkit will guide you through a consumer-cen…

Consumer Engagement: Helping People Want What They Need

In partnership with the Asset Funders Network (AFN), Commonwealth wrote this brief to explain the importance of consumer-centric design. The brief includes an actionable framework and examples of how it can be implemented to create a product that consumers want to use.

SavingsQuest: How it Works

SavingsQuest, an award-winning app by Commonwealth, uses gamification to drive greater account engagement and saving. This short video demonstrates the key features of the app. Click here to learn more about SavingsQuest.

A History of Prize-Linked Savings

Commonwealth's innovation process has proven effective over the last 15 years in building solutions to help over a million Americans build more than $200MM in savings. As one of Commonwealth's most notable ideas to go through the innovation process, Prize-Linked Savings (PLS) serve…

SaveYourRefund 2016

The SaveYourRefund campaign had another successful tax season in 2016. SaveYourRefund, in its 4th year, is a national campaign encouraging savings at tax time, when households making less than $50,000 claim $100 billion in federal tax refunds. The campaign creates a fun and rewarding experience to inspire Americans to use the moment of claiming a refund as an opportunity to save.

The SaveYourRefund campaign had another successful tax season in 2016. SaveYourRefund, in its 4th year, is a national campaign encouraging savings at tax time, when households making less than $50,000 claim $100 billion in federal tax refunds. The campaign creates a fun and rewarding experience to i…

Save to Win 2015

In 2015, Save to Win accountholders in all participating states (MI, CT, VA, NC, WA) saved over $22 million. A total of 6,195 new accounts were opened during the same year, helping the program reach new heights. Since 2009, Save to Win has allowed over 60,000 consumers to open accounts and…

Building the Innovation Pipeline: Workshopping Solutions for Financially Vulnerable Consumers

With support from the J. P. Morgan Chase Foundation and the Ford Foundation, Commonwealth tested an interactive design workshop on March 1, 2016, convening a select group of experts to ideate around a specific consumer challenge: How might we combine savings and credit opportunities to help fin…

Commonwealth Innovation Pipeline

Commonwealth uses a four-step process to generate innovative solutions to build financial security. We discover ideas, pilot solutions and drive innovations to scale to impact millions of households. The attached publication provides more detail about each of the 4 stag…

Behavior Changes and Prize-Linked Savings: Managing Financial Volatility

Consumers from across the income spectrum are faced with the challenge of uncertain income and expenses, but for low- and moderate-income consumers with limited access to financial products and services these challenges are magnified. Commonwealth undertook a year-long study with eight Gre…

SavingsQuest: Creating Savings Through Gamification

Inspired by innovations in the field of health and fitness, SavingsQuest is a gamified savings app based on the principle that every contribution to a savings product, no matter how small, counts. D2D conducted a pilot of the app with consumers who used a prepaid card with an embedded savings pocket…

SaveYourRefund Saving Dreams

Mary Bunch, the SaveYourRefund grand prize winner in 2015, was living paycheck to paycheck until the chance at a cash prize motivated her to put aside a little money at tax time. Not only did she end up winning the grand prize, but she also learned to start a habit of saving, creating a brighter fut…

Prize-Linked Savings: Creating Financial Confidence and Opportunity

Prize-linked savings (PLS) products are improving financial confidence and self-efficacy. Previous D2D research has provided evidence on the impact of prized-linked solutions on helping financially vulnerable consumers try savings products and build reserves. New research shows that consumers are bu…

myRA: a New Savings Product for Financially Vulnerable Americans

According to a survey fielded by D2D, consumers have positive initial reactions to a new savings product, myRA, that has been released by the U.S. Treasury Department. myRA is intended to help first-time and small-dollar savers set aside savings directly from their paychecks. D2D's infographic d…

SaveYourRefund 2014: Saver Stories

Read the stories of tax filers who saved part of their refund during the Save Your Refund 2014 campaign.

SummerQuest: A Gamification Pilot in Birmingham

SummerQuest is a four-week summer gamified experience that challenges high school students during the early part of their summer break to complete educational quests in one of three objective areas: college readiness, test preparation (SAT/ACT), and financial literacy. In partnership with BlackSmith…

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 …

FinLit Talks: Financial Entertainment

Commonwealth's Nick Maynard speaks at the George Washington University School of Business Financial Literacy Seminar Series about our work in Financial Entertainment. FinLit Talks: Financial Entertainment from GFLEC on Vimeo.

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, …

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