Our Research
Commonwealth conducts original qualitative and quantitative research with financially vulnerable people—including Black, Latinx, and women-led households who disproportionately experience financial insecurity. We also interview industry experts and academics. We take what we learn and translate findings into actionable insights and practical solutions designed to change systems to work better for financially vulnerable people. We work with community groups, employers, financial services firms, fintechs, policymakers, and workplace solution providers to design and test real-world, practical solutions that not only work for individuals and families, but are also scalable and address the business needs of our partners.
We share the results of our work to provide you with innovative ideas, practical insights, and the tools you need to act. Explore our publications below.
Financial Security in the Workplace
In America’s human resources community, the moment of “financial wellness” has arrived. In growing numbers, employers are concluding that benefits to support workers’ financial wellbeing should go well beyond retirement benefits. More and more firms believe that personal finance challenges…
SavingsQuest: Gamification Brings Savings to the 21st Century
Commonwealth designed and tested a gamified savings app called SavingsQuest, a modern, accessible approach that facilitates microsaving and reinforces the principle that every contribution counts. As a gamified experience, the app makes engaging in savings behavior more interesting and desirable.…
SavingsQuest Infographic
Even with access to savings products, consumers still struggle to actually save. Engagement with video games, however, continues to soar. The problem is that saving just isn’t fun, and it isn’t associated with immediate rewards. Commonwealth developed a solution that…
Prize-Linked Savings in Credit Unions: 2017
In 2017, Prize-Linked Savings (PLS) products continued to expand and reach more people. All three of the PLS products highlighted in this piece saw growth, from the flagship Save to Win (STW) product to the two new products from 2016,…
Commonwealth 2017 Accomplishments
In 2017, we developed new ideas, tested innovative solutions, and worked with partners to improve the lives of financially vulnerable Americans at scale. Here are just a few examples of the work we’re proud of from 2017.
Minimum Wage Survey Results
In 2017, Commonwealth conducted a national survey of minimum wage workers. Our goal was to better understand the unique perspectives and financial challenges of those workers. This infographic shows some of what we learned.
Addressing the Emergency Savings Challenge
In June 2017, Commonwealth and The Federal Reserve Bank of Boston (“the Boston Fed”) hosted a convening, “The Emergency Savings Innovation Challenge,” to invite banks, credit unions and key regulators in the region to discuss the financial insecurity crisis and…
Walmart MoneyCard Prize Savings: One Year Anniversary Brief
Innovative financial products can help financially vulnerable people save money. Walmart’s MoneyCard Prize Savings program, designed in partnership with Green Dot Bank and Commonwealth, is demonstrating that case. Prize Savings uses the chance to win cash prizes to make saving…
Ramp It Up: Executive Summary
Access to a college education is one of the key drivers of financial security, and financial aid (loans, grants, and scholarships) can make college a viable opportunity for many students. However, understanding how to access such aid requires financial capability…
Ramp It Up: Gamifying College Financial Readiness
Access to a college education is one of the key drivers of financial security, and financial aid (loans, grants, and scholarships) can make college a viable opportunity for many students. However, understanding how to access such aid requires financial capability…