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.
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.
Child Tax Credit Payments Are Keeping Savings Balances Stable
Despite rising costs, CTC payments are helping families keep a critical savings cushion.
Member Employment Remains Stagnant
Why have so many more people reported their hours have been reduced? In September, we saw a 33% spike in members reporting their employer cut their hours versus pre-pandemic levels.
The Child Tax Credit is Keeping Families Afloat
SaverLife members are finding the Child Tax Credit payments impactful in covering day-to-day expenses.
Un- and Underemployment Increases from July 2021
In August, the percentage of SaverLife members who indicate they are working at pre-pandemic levels fell 14%.
Child Tax Credit Update: Most SaverLife Parents Have Received Their Payments
Most SaverLife parents have received the Child Tax Credit, and those who haven’t believe that they will.
Grocery Spending for Snap Recipients Remains Elevated
SNAP recipients are spending 21% more on groceries than they were in 2019.