Financial Health Dashboard
Through this dashboard we’ll periodically release resources that help paint a picture of our members’ financial health, the challenges they face, and recommendations to improve their financial health outcomes.
Why Financial Slack Is a Key Indicator of Financial Health
To help SaverLife members and millions of others like them, policymakers should focus on both sides of the ledger: income AND expenses. This will require a shift in mindset toward policymaking focused on household balance sheets instead of solely on macroeconomic indicators like Gross Domestic Product growth, the stock market, and the unemployment rate.
Not Everyone Received Child Tax Credit Payments
Only 54% of families reported receiving the full amount of Child Tax Credit payments they expected.
SaverLife Members Are Depositing Money, but They’re Not Building Wealth
Members are saving, but they’re not building wealth.
The Expanded Child and Dependent Child Care Credit
While a well-intentioned benefit, many families with lower-incomes can't afford paid childcare
Child Tax Credit Payments Are Keeping Savings Balances Stable
Despite rising costs, CTC payments are helping families keep a critical savings cushion.
Small Budgets + A More Expensive Holiday = A Tough Season for SaverLife Members
More than 80% of SaverLife members said holiday gifts are more expensive this year.
2021 Has Been an Expensive Year for SaverLife Members
SaverLife members have increased spending on necessities by as much as 49% since 2019.
Members Struggle to Reach Pre-Pandemic Employment Levels
The majority of the 20% unemployed say they were working prior to COVID, and they’re unable to find work now.