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A Fragile BalanceRefund to Savings: Creating Contingency Savings at Tax Time

A Fragile Balance: Refund to Savings: Creating Contingency Savings at Tax Time [The Refund to Savings (R2S) initiative aims to help low- and moderateincome (LMI) households build short-term contingency savings by providing motivation and opportunity to save their tax refunds, the largest single sum many households receive all year. Other research on tax-time interventions has yielded promising findings (Key et al. 2012; Tufano 2010; Beverly, Tescher, and Romich 2004), but R2S expands the potential of such interventions by using a scalable delivery system (online tax-preparation software) and incorporating motivational mechanisms grounded in behavioral economics theory. The delivery of the intervention is seamlessly integrated within an existing infrastructure, ensures high fidelity between the intervention’s design and its implementation, and minimizes the cost of the intervention. The intervention mechanisms are designed to help tax filers overcome psychological and behavioral barriers that limit the accumulation of savings.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Fragile BalanceRefund to Savings: Creating Contingency Savings at Tax Time

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Publisher
Palgrave Macmillan US
Copyright
© Palgrave Macmillan, a division of Nature America Inc. 2015
ISBN
978-1-349-50398-8
Pages
87 –106
DOI
10.1057/9781137482372_6
Publisher site
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Abstract

[The Refund to Savings (R2S) initiative aims to help low- and moderateincome (LMI) households build short-term contingency savings by providing motivation and opportunity to save their tax refunds, the largest single sum many households receive all year. Other research on tax-time interventions has yielded promising findings (Key et al. 2012; Tufano 2010; Beverly, Tescher, and Romich 2004), but R2S expands the potential of such interventions by using a scalable delivery system (online tax-preparation software) and incorporating motivational mechanisms grounded in behavioral economics theory. The delivery of the intervention is seamlessly integrated within an existing infrastructure, ensures high fidelity between the intervention’s design and its implementation, and minimizes the cost of the intervention. The intervention mechanisms are designed to help tax filers overcome psychological and behavioral barriers that limit the accumulation of savings.]

Published: Nov 3, 2015

Keywords: Saving Account; Saving Behavior; Internal Revenue Service; Alternative Financial Service; Payday Lending

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