March 08, 2021
SaverLife is building a nation of savers
According to a recent study, just 39 percent of Americans surveyed say they could comfortably cover an unexpected expense of $400. So for Leigh Phillips, President and CEO of SaverLife, the term “savings problem” doesn’t express the gravity of the situation.
Since its founding in 2001, SaverLife’s mission to help people save money hasn’t wavered. Today, it has become more urgent than ever, given the growing percentage of Americans living paycheck-to-paycheck. For these people, saving money can feel impossible, and even the smallest setback can trigger a chain reaction leading to financial disaster.
To help their 460,000 members change their savings habits and gain better control of their financial future, the San Francisco-based nonprofit uses a combination of prizes, incentives, and consumer insights.
To power these money-saving services, SaverLife needed access to consumer-permissioned financial data. For that, they chose Plaid.