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