Almost half of Americans don’t have $500 in the bank. Without an emergency fund, disruptions like a flat tire, a leaky faucet, or a last-minute plane ticket can have a huge ripple effect. As AFC® and FFC® professionals, you may see this issue in your work with clients or even among your friends and families.
SaverLife is working to change this reality, which is why it may be a great tool for you to share with your clients. SaverLife is a prize-linked savings platform that incentivizes people to save and makes it fun and easy to get started. AFCPE and SaverLife are excited to join forces to impact the many people who are facing unprecedented financial challenges.
Using SaverLife with Your Clients
As an AFCPE certified professional or member, you can sign up your clients for SaverLife – or try it out yourself! SaverLife is a great tool for your low- and moderate-income clients who are working to build a habit of savings. It rewards them for saving consistently without penalizing them for using their savings when necessary.
Built on behavioral and economic science, SaverLife works. On average, SaverLife clients save 2.3x more after they start using SaverLife compared to the period before they joined.
Working as a SaverLife Financial Coach
SaverLife works with certified experts like AFCs and CFPs to produce free and reliable financial resources for SaverLife members. If you’re passionate about helping people improve their finances and love writing, reach out! They’re always looking for experts to join their team of writers. You can write on your own time and schedule. If you’re interested, email Grace, SaverLife’s Senior Marketing Manager, at firstname.lastname@example.org.
Learning from SaverLife Research
A key part of SaverLife’s mission is that they want to use their learnings to help inform the broader nonprofit and personal finance community, as well as to help their members save and improve their finances. Their research team conducts studies to learn what works and what doesn’t work to motivate people to save. Check out some of their most recent reports:
- The financial impact of the Covid-19 crisis on working families
- How fines and fees impact low-income Californians
- How people can balance savings and debt
- Can people receiving food stamps save money?
Check out more of their research and sign up for their mailing list to stay in the loop.
How SaverLife Works
SaverLife is a free online program that anyone can sign up for. You just need to be 18 years or older and have an email address and a U.S. bank account or PayPal account.
Just go to the SaverLife website and click “Sign Up” to get started. Once you create your account, you’ll be able to:
- Win money by participating in savings challenges like Scratch & Save
- Connect with other savers in the member forum
- Learn from articles by certified financial experts
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