Just keep my money! Supporting tax-time savings with U.S. Savings Bonds

Tufano, Peter (2008) Just keep my money! Supporting tax-time savings with U.S. Savings Bonds. Harvard Business School Working Paper, No. 09-059.

Abstract

This paper reports the results of a 2007 experiment testing if specific process simplification can foster increased take-up rates for savings products, particularly by low-to-moderate income (LMI) households. Tax refund recipients at certain H&R Block tax preparation offices were given the option to purchase U.S. Savings Bonds with their tax refunds, augmenting the tax-site savings options offered by Block. Those who received the savings bond offer were substantially more likely to purchase a savings product on-site than those who didn't, even after controlling for client demographics. Much of this take-up was directed at intra-family gifting, or asset building on behalf of children.

Item Type: Other Working Paper
Keywords: savings; investments; tax refunds
Date Deposited: 19 Oct 2011 15:53
Last Modified: 15 Oct 2015 02:18
URI: http://eureka.sbs.ox.ac.uk/id/eprint/932

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