Briefs & Summaries Financial Behaviors Financial Inclusion

Saving Behavior in Response to Motivational Prompts: Evidence From the Refund to Savings Experiment

During the 2012 tax season, the Refund to Savings (R2S) research team fielded the Intention Survey- a randomized control trial- to a sample of TurboTax users. The survey measures the potential for motivational prompts to increase the intention to save refunds among users of TurboTax products. The purposes of this memo are to describe patterns of refund to savings intentions among survey respondents and explore the relative effects of motivational prompts on their intentions. We separate some analyses by income to demonstrate differences between low- and higher income households.

Citation

Key, C., Grinstein-Weiss, M., Tucker, J., Holub, K., & Ariely, D. (2013, May). Saving behavior in response to motivational prompts: Evidence from the Refund to Savings experiment (CSD Research Brief No. 13-12). St. Louis, MO: Washington University, Center for Social Development.