Corpus ID: 166360983

New Savings from Old Innovations: Asset Building for the Less Affluent

@inproceedings{Schneider2004NewSF,
  title={New Savings from Old Innovations: Asset Building for the Less Affluent},
  author={Daniel Schneider and Peter Tufano},
  year={2004}
}
In this paper, we review data on U.S. household savings, especially by less-affluent households, discuss theories of savings, and the impediments to savings. These impediments are a combination of factors that influence behavior by households and financial service firms. We discuss a number of innovations, largely adapted from experience with more-affluent financial service consumers, that might increase savings. These innovations either stimulate the demand for savings by providing… Expand

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