Financial Behaviors: Nudges and Habits

The Center for Social Development is engaged in research projects to enhance financial inclusion by researching people's financial behaviors and how those behaviors might be altered, or nudged, to expand access for low- and moderate-income families to the infrastructure of opportunity.

These efforts include the Refund to Savings (R2S) initiative. R2S​​ builds a saving-promotion experiment into Intuit'sTurboTax Free File Online product that is available to low- and moderate-income households. The “myRA at Tax Time” experiment is an extension of R2S, investigating combinations of messages and interest in opening myRA​ accounts during the tax filing process.

In addition, CSD is researching Employer-sponsored Financial Wellness Programs​. In recent years, the number of financial wellness programs (FWPs) have increased significantly, yet they operate at a small scale, and evidence concerning their efficacy is limited. New, scalable models must be developed to reach and serve economically vulnerable populations.