2014 Assets Learning Conference
 

How to Get People to Save

Thursday, September 18th, 2014
10:15-11:30 AM

Room: Georgetown

Anyone who has ever managed a savings product or program knows that it’s hard to get people to save. In the past, we’ve relied on financial incentives to bolster savings. However, the growing field of behavioral economics has helped us to understand key barriers to saving and developed new low- and no-cost strategies that motivate people to save. This session will introduce effective savings motivators such as text message reminders, commitment statements and a tangible tracking tool. Panelists will explain how the savings motivators were implemented and tested, and offer advice on how to apply the savings motivator to savings products and programs in the real world. We’ll also allow time for audience members to share challenges or barriers to savings they’ve observed among their clientele and discuss how these barriers may be overcome.   

Speakers

  • Merve Akbas, Center for Advanced Hindsight, Duke University
  • Jeremy Burke, RAND Corporation
  • Aaron Dibner-Dunlap, Innovation for Povery Action
  • Pamela Chan, CFED (Moderator)

Materials


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