Experts explore how to urge Americans to save part of tax refund

​In the midst of the 2016 tax season, leaders from philanthropy, policy, practice and academia convened in at the Federal Reserve Bank of New York for a symposium about using tax time to build Americans’ financial capability.

How Israel implements child accounts will be crucial

Michal Grinstein-Weiss, associate director of the Center for Social Development, spent part of December traveling in Israel on an important mission: to spread the word about how Israel can best implement its new law to provide universal child savings accounts known in the United States as Child Development Accounts, to all newborns.

Israel adopts savings accounts for children based on CSD recommendation

Israel’s parliament has passed a law funding long-term savings accounts for all newborns, based on a proposal developed by Michal Grinstein-Weiss, associate director of the Center for Social Development, and on research efforts led by Michael Sherraden, director of CSD.

Use of Alternative Financial Services Among Low- and Moderate-Income Households: Findings From a Large-Scale National Household Financial Survey

Despard, M. R., Perantie, D. C., Luo, L., Oliphant, J., & Grinstein-Weiss, M. (2015, November). Use of alternative financial services among low- and moderate-income households: Findings from a large-scale national Household Financial Survey (CSD Research Brief No. 15-57). St. Louis, MO: Washington University, Center for Social Development.

​Treasury launches national myRA retirement plan

The U.S. Department of the Treasury has announced the national launch of the myRA program, a government-backed retirement plan for people who don’t have access to a retirement savings plan at work or who haven’t found an easy enough way to save.

Israel’s proposed budget includes CSD plan for Child Development Accounts

Israel’s parliament will consider a state budget this fall that includes funding for long-term savings accounts for all newborns, a proposal authored by Michal Grinstein-Weiss, PhD, the associate director of the Center for Social Development, and based on research efforts led by Michael Sherraden, PhD, the director of CSD.

Journal: Start children early for financial success

The Great Recession exposed the financial fragility of millions of American families. Now researchers and policymakers are striving to improve the next generation’s grasp of personal finance and its access to safe financial products.

Refund to Savings: Creating Contingency Savings at Tax Time

Grinstein-Weiss, M., Comer, K., Russell, B. D., Key, C., Perantie, D., & Ariely, D. (2015). Refund to Savings: Creating contingency savings at tax time. In J. M. Collins (Ed.), A fragile balance: Emergency savings and liquid resources for low-income consumers (pp. 87–106). New York, NY: Palgrave Macmillan.

Homeowners fared better than renters in Great Recession

While many Americans took a big financial hit during the Great Recession, homeowners were less likely than renters to lose very large proportions of their wealth, finds a new study from the Center for Social Development in the Brown School at Washington University in St. Louis.

Refund to Savings 2013: Comprehensive Report on a Large-Scale Tax-Time Saving Program

Grinstein-Weiss, M., Perantie, D. C., Russell, B. D., Comer, K., Taylor, S. H., Luo, L., Key, C., & Ariely, D. (2015). Refund to Savings 2013: Comprehensive report on a large-scale tax-time saving program (CSD Research Report No. 15-06). St. Louis, MO: Washington University, Center for Social Development.

Chicago event focuses on creating savings opportunities

The 80 experts attending the event were brought together by a common interest in creating strategies for using the “golden moment” of tax time to help Americans build savings by changing the way consumers make economic decisions.

CDA program urged for Israel

​Michal Grinstein-Weiss, Ph.D., the associate director of the Center for Social Development and associate professor at the Brown School at Washington University, presented to a visiting delegation of Israeli government officials in New York City.

Treasury awards $1 million for CSD retirement savings research

The U.S. Treasury Department has awarded a $1.08 million research contract to the Center for Social Development at Washington University’s Brown School. One of 11 contracts awarded nationally under the Financial Empowerment Innovation Fund, this award will fund research on myRA accounts (“My Retirement Accounts”).

Lack of Emergency Savings Puts American Households at Risk

Grinstein-Weiss, M., Russell, B., Tucker, B., Comer, K. (2014, June). Lack of emergency savings puts American households at risk: Evidence from the Refund to Savings Initiative (CSD Policy Brief No. 14-13). St. Louis, MO: Washington University, Center for Social Development.

CSD partners with St. Louis Fed on balance sheet symposium

​The Center for Social Development at Washington University in St. Louis built on an already engaged and productive relationship this month when it co-sponsored a symposium with the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis.

Does Outstanding Student Debt Reduce Asset Accumulation?

Elliott, W., III, Grinstein-Weiss, M., & Nam, I. (2013). Does outstanding student debt reduce asset accumulation? (CSD Working Paper No. 13-32). St. Louis, MO: Washington University, Center for Social Development.

Student Debt and Declining Retirement Savings

Elliott, W., III, Grinstein-Weiss, M., & Nam, I. (2013). Student debt and declining retirement savings (CSD Working Paper No. 13-34). St. Louis, MO: Washington University, Center for Social Development.

Refund to Savings (R2S): Insight From the Field, 2012

Holub, K., Grinstein-Weiss, M., Key, C., & Ariely, D. (2013). Refund to Savings (R2S): Insight from the field, 2012 (CSD Research Report No. 13-11). St. Louis, MO: Washington University, Center for Social Development.

With the right mortgage, homeownership builds wealth

The Great Recession, characterized by devastating mortgage defaults, has challenged the traditional belief that homeownership is a good investment. This is particularly true for those with low and moderate incomes.

Savings experiment helps taxpayers make the most of their refunds

​As taxpayers make the final push to file before the April 15 deadline, they often have visions of refund checks and plans to spend their windfall. But the question that more and more people are asking is, “How can I make the most of my refund?”