The multiplying movement: the state of the children’s savings field 2022

The Multiplying Movement: The State of the Children’s Savings Field 2022 shares findings from Prosperity Now’s 2022 Children’s Savings Account (CSA) program survey. The report highlights the incredible growth of the field with over 4.9 million children and youth with CSAs across the US. In addition, this report analyzes trends among CSA programs and spotlights new programs across the country. As you will see in the report, the CSA field shows no signs of slowing down.  



Income support, inflation, and homelessness

A good deal of attention has been paid to the question of what these high rates of inflation in housing and food costs mean for Canadians. Much of the concern has focused on the implications for middle-income Canadians hoping to purchase a home, while squeezing their household budgets. But what do these rates of inflation mean for Canadians with very low income? For them, high rates of inflation in the price of food and shelter mean more than having to delay thoughts of homeownership. For them, the threats are considerably more serious.



Emergency savings preparedness and perceptions

According to Employee Benefit Research Institute (EBRI), workers with household incomes of $75,000 or more are more than twice as likely to say they feel they can handle an emergency expense than those with household incomes of less than $35,000.

This report outlines the results of the 2022 survey that polled nearly 2700 Americans 25 and older. 



The impact of the enhanced child tax credit on lower-income households

The American Rescue Plan, one of the most significant policy responses to alleviate child poverty in decades, made fundamental changes in enhancing the Child Tax Credit (CTC). In response to the pandemic, the law expanded the CTC for tax year 2021 to ensure a minimum level of economic support to all families raising children.

Commonwealth, SaverLife, and Neighborhood Trust Financial Partners followed up with CTC-eligible families after most filed their 2021 tax returns. We conducted interviews and surveys to assess the impact of the enhanced credit on families’ financial health. Although we focused on the second half of the CTC payment, which was delivered as a lump sum payment as part of the tax refund, we also asked recipients about their tax filing experience and what a continuation of an expanded credit would mean for their families.



Emergency savings features that work for employees earning low to moderate incomes

Workers earning low to moderate incomes (LMI) continue to face challenges in financial security. The COVID-19 pandemic exacerbated the financial situation of many workers earning LMI. Along with the current macroeconomic environment, it has become even more challenging to build liquid savings for unexpected expenses. In this brief, we will share insights from our latest research with DCIIA Research Retirement Center on how employers and service providers can build and offer emergency savings solutions that are inclusively designed for workers earning LMI.



Recordkeepers’ Role in Providing Emergency Savings for an Inclusive Recovery

In this webinar, Commonwealth in partnership with DCIIA Retirement Research Center (RRC) and SPARK Institute present findings from our new research about drivers and considerations of recordkeeper-provided emergency savings and host a discussion with industry experts.

Ageing and Financial Inclusion: 8 key steps to design a better future

The G20 Fukuoka Policy Priorities for Ageing and Financial Inclusion is jointly prepared by the GPFI and the OECD. The document identifies eight priorities to help policy makers, financial service providers, consumers and other actors in the real economy to identify and address the challenges associated with ageing populations and the global increase in longevity. They reflect policies and practices to improve the outcomes of both current generations of older people and future generations.



Running in Place: Why the Racial Wealth Divide Keeps Black and Latino Families From Achieving Economic Security

This report examines data from the Federal Reserve System’s 2016 Survey of Consumer Finances to understand how the wealth of median Black, Latino and White families have changed since the findings of its previous survey were released in 2013.



The Perils of Living Paycheque to Paycheque

This report, 'The Perils of Living Paycheque to Paycheque: The relationship between income volatility and financial insecurity', examines the relationship between income instability and broader measures of financial well-being.  

This study makes use of a unique dataset that collected self-reported month-to-month volatility in household income, measures of capability, financial knowledge and psychological variables.

One in three adult Canadians reported at least some volatility in their monthly incomes, with six per cent reporting that the source and amount were both uncertain. Income volatility is present across a wide swath of the survey respondents, regardless of gender, family status, region of the country, education level and even income sources. Income volatility is correlated with lower financial knowledge, lower financial capability, and stronger beliefs that financial outcomes are up to fate and outside of personal control.



Strengthening retirement security for low- and moderate-income workers

In this video presentation Johnathan Weisstub from Common Wealth discusses recent improvements in senior Canadians' poverty levels due to benefits such as OAS and GIS, and the challenges that still remain in ensuring retirement security for modest-earning and low-income Canadians. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

View the full video playlist of all presentations from this symposium.