Grow It Goal 1
Family members establish a financial cushion by regularly building their savings over time.

Common Sense
  • Savings insulates families from bad times and offers them opportunities in good times.
  • Once they get started, low-income people with a goal tend to save a higher percentage of their income than do people with higher incomes.
  • When parents save, children tend to develop the habit.
  • Younger generations have saved less in recent decades.

Fast Facts

Check out related Action Ideas and Alerts below! Or view other Grow It goals here.

Children’s Savings Accounts

The Basic Idea: Help children, youth and their families save towards the purchase of an appreciating asset upon reaching adulthood so that economic status will not be a barrier to the young person’s path to success. How it works: Children and youth are provided with a specialized savings account that they can access and use […]

Payroll Savings Plans

The Basic Idea: Encourage families to have savings taken out of their paychecks – making saving easier and reducing the temptation to spend earnings right away.

Save a little for a chance to win big!

Families need to save if they are to get ahead.  But it’s hard to get started. Saving just a little regularly is the best way to go.  That helps families establish a financial cushion, the first Grow It goal of the RuFES Action Framework. Every year, free tax prep sites look for ideas to encourage low-income families to save […]

The IDA Match: The Gift that Keeps on Giving in Rural Communities

The holiday season comes with the annual barrage of messages about the great deals and ways to save on gifts. Fortunately, there are more ways to save than just shopping for bargains! In rural communities, Individual Development Accounts are like a gift that keeps on giving. These matched savings accounts provide both a 2-for-1 (at […]

Individual Development Accounts (IDAs)

The Basic Idea: Create asset-restricted savings programs for low-income families, which include matching government and private funds to further encourage savings. How it works: Families agree to save a small amount each pay period or every month towards purchasing an asset—usually within one to three years. Eligible assets include homes, businesses and higher education—sometimes automobiles and […]

Roll Your Change Week

Roll Your Change Week (RYCW) is an event designed to encourage individuals and families to start saving. Community members gather the coins they have saved and found in their homes and carry them to a central event location-where volunteers roll the coins for them. People are encouraged to deposit their rolled coins into existing accounts […]

Rural IDAs

Earning It isn’t enough to lift families out of poverty—they have to Keep It and Grow It too. Individual Development Accounts (IDAs) are one of the most successful and tested ways to help families Keep It and Grow It. But there are special challenges and opportunities when you start and run an IDA program in a rural place. The basics […]

RuFES is a project of the Annie E. Casey Foundation and the Aspen Institute Community Strategies Group.
One Dupont Circle NW, Suite 700, Washington, D.C., 20036