Effects of a Tax-Time Savings Intervention on Use of Alternative Financial Services among Lower-Income Households
Effects of a Tax-Time Savings Intervention on Use of Alternative Financial Services among Lower-Income Households
7 July, 2020 •Similar Articles
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Alternative financial services (AFS) such as check cashing and payday loans may help unbanked households meet transaction and credit needs, yet often at a very high price. Saving tax refunds can help low- and moderate-income (LMI) households build emergency savings as a way to reduce dependence on AFS and cope effectively with irregular cash flows and financial shocks.