Prosperity SmartSave Card: An Incentivized Emergency Savings Strategy

Sharon Henderson

Chapter Chapter 9 in A Fragile Balance, 2015, pp 141-152 from Palgrave Macmillan

Abstract: Abstract The Great Recession affirmed the need for families across all income strata in the United States to build contingency funds, yet saving for future emergencies is most difficult in households that most need help in weathering unexpected expenditures—those with little to no disposable income. Building emergency savings alone will not bring significant improvements in families’ economic security; promoting savings is only one element of a broader effort to move families toward financial security. Building strong credit histories is another pivotal component of improving financial security within the US financial systems. The Prosperity SmartSave card, developed by Prosperity Works, is designed to address both of these critical components of financial security, providing access to emergency savings funds and helping consumers build credit histories, especially for those who are un- or underbanked.

Keywords: Credit Union; Financial Security; African American Family; Saving Account; Financial Education (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-48237-2_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137482372

DOI: 10.1057/9781137482372_9

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().