SAN FRANCISCO--(BUSINESS WIRE)--SaverLife and the Intuit Financial Freedom Foundation (IFFF) today announced the launch of a national campaign to encourage more people to jumpstart their savings journey at tax time. The campaign builds on multiple years of research and success helping more than 100,000 people with low-to-moderate incomes pledge to save over $120 million at tax time. The partnership is accelerating paid digital outreach to find and motivate tens of thousands of new people to save a portion of their tax refund and maintain savings year-round.
SaverLife and IFFF first joined forces in 2018 to provide the tools many people need to build a strong foundation for long-term financial health. This shared purpose has been at the center of the tax time initiatives the two organizations have worked on together for the last five years.
Expanding the Intuit-SaverLife Partnership in 2022
IFFF is donating nearly $1 million in cash and in-kind services to support SaverLife’s new digital media outreach campaign to broadly promote its successful Tax-Time pledge and tips for navigating tax time on saverlife.org, while testing new tactics that encourage savings, including challenges tailored to a user’s personal financial goals.
With Intuit’s deep experience in providing the tools, skills, and insights that help empower people to take control of their finances at tax time and beyond, and SaverLife’s expertise in savings innovations, the partnership seeks to transform tax time into a powerful opportunity for financial health and prosperity among individuals with low-and-moderate incomes.
Since 2018, IFFF has invested $4.2M in SaverLife to bring an interactive savings experience to its members. The Foundation’s 2022 commitment is intended to accelerate the success of SaverLife's Tax Time program so that more people can build a strong financial foundation during one of the most critical financial moments of the year—tax time.
“The last 18 months of the pandemic have solidified the importance of everyone engaging with the tax system,” said Leigh Phillips, CEO of SaverLife. “Together with Intuit, we have turned tax-time into an empowering moment to kick-start financial health all year long. We have built a successful program to support people living with low-to-moderate incomes to make the most of the tax season by ensuring they file, have the resources and information they need to maximize their tax refund and encourage them to save a portion of their refund.”
SaverLife’s new digital outreach campaign calls attention to its successful gamification tools to incentivize savings and to real-life testimonies from savers who have taken the tax time pledge. SaverLife will leverage current trends in digitized personalization to test new tactics to encourage savings, including challenges tailored to a user’s personal financial goals. Even small nudges can lead to long-term behavioral changes. As before, SaverLife will offer $20,000 worth of prize-based challenges through weekly instant win $50 scratchers.
“At Intuit, everything we do starts with the belief that everyone deserves the opportunity to prosper,” said Susan Mason, director at IFFF. “Now more than ever, circumstances demand that we think and do things differently. We know from research that most people want to save but have to use their tax refund to catch up. We want them to be able to get ahead as well. The investment and partnership with SaverLife have been and continues to be critical to creating a world where everyone can do just that.”
Separate from the Foundation’s funding and in-kind services, Intuit is also offering SaverLife members the opportunity for virtual taxpayer assistance to help them prepare and file their 2021 tax returns for free with TurboTax and assistance from Intuit volunteer tax experts.
For more on SaverLife, please visit: saverlife.org/
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About SaverLife
SaverLife (formerly EARN) is a 501(c)3 nonprofit on a mission—to inspire, inform, and reward the millions of Americans who need help saving money. Through engaging technologies and strategic partnerships, we give working people the methods and motivation to take control of their financial future. SaverLife has a number of esteemed investor partners including Intuit Financial Freedom Foundation, MetLife Foundation, Prudential, JPMorgan Chase & Co., MasterCard, and Capital One. For more information or to join the SaverLife movement, please visit saverlife.org.
About the Intuit Freedom Financial Foundation
Intuit Financial Freedom Foundation is Intuit’s charitable foundation dedicated to public/private/not-for-profit partnerships and programs that help bring opportunities to prosper to all, especially those living with lower incomes. Intuit believes citizen engagement in preparation and filing of tax returns is an important, empowering opportunity for Americans to understand and improve their personal financial lives. This is especially true for lower income Americans – and why Intuit has donated TurboTax to millions, founded “Tax Time Allies,” and provides funding and other support to nonprofits that build financial freedom – including savings – for those who need it the most.
