Abstract

http://ssrn.com/abstract=1285385
 


 



Just Keep My Money! Supporting Tax-Time Savings with US Savings Bonds


Peter Tufano


University of Oxford - Said Business School; National Bureau of Economic Research (NBER)

August 13, 2010

Harvard Business School Finance Working Paper No. 09-059

Abstract:     
This paper reports the results of a 2007 experiment testing if specific process simplification can foster increased take-up rates for savings products, particularly by low-to-moderate income (LMI) households. Tax refund recipients at certain H&R Block tax preparation offices were given the option to purchase U.S. Savings Bonds with their tax refunds, augmenting the tax-site savings options offered by Block. Those who received the savings bond offer were substantially more likely to purchase a savings product on-site than those who didn’t, even after controlling for client demographics. Much of this take-up was directed at intra-family gifting, or asset building on behalf of children.

Number of Pages in PDF File: 40

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Date posted: October 16, 2008 ; Last revised: August 17, 2010

Suggested Citation

Tufano, Peter, Just Keep My Money! Supporting Tax-Time Savings with US Savings Bonds (August 13, 2010). Harvard Business School Finance Working Paper No. 09-059. Available at SSRN: http://ssrn.com/abstract=1285385 or http://dx.doi.org/10.2139/ssrn.1285385

Contact Information

Peter Tufano (Contact Author)
University of Oxford - Said Business School ( email )
Park End Street
Oxford, OX1 1HP
Great Britain
+44 (0) 1865 288551 (Phone)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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