A Fragile Balance book cover
Consumer Financial Services, Asset-Building & Savings, Financial Capability & Education, Financial Services Industry
Book Chapter | March 17, 2015

Building Emergency Savings Through “Impulse Saving”

A Fragile Balance: Emergency Savings and Liquid Resources for Low-Income Consumers
Jessica Dorrance
Research funded by Center for Financial Security

Center senior project manager Jessica Dorrance joins other experts contributing chapters to a new book published by the Center for Financial Security that examines strategies to promote emergency savings, especially among underserved households.

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Overview

Senior project manager Jessica Dorrance joins other experts contributing chapters to A Fragile Balance: Emergency Savings and Liquid Resources for Low-Income Consumers. The new book, published by the Center for Financial Security, examines strategies to promote emergency savings, especially among underserved households.

Each chapter proposes an innovative financial product or service designed to bolster emergency savings among low-asset families. Dorrance’s chapter describes an innovative program, called Magic Mojo, which sought to promote savings among lower-income consumers by leveraging the enjoyment of impulsive action and overcoming some of the key barriers that prevent them from being able to save.

The book also offers readers insights into the role of emergency savings and mechanisms to facilitate savings behaviors, and it raises critical questions of the scale, institutional capacity, sustainability, accessibility and effectiveness of existing programs.


Related Projects

Piggymojo Program Evaluation
Center for Financial Services Innovation

The UNC Center for Community Capital conducts research and policy analysis on ways to make financial services work better for more people and communities.

 

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