A Win-Win For All: Growth of Save to Win in Michigan
At a time when savings are important, how do we engage consumers in the act of saving and reinstitute a culture of thrift in America? One promising way is to ensure that the act of saving is fun. Prize-linked savings (PLS) models are structured to do exactly that - reward savings behavior to help motivate individuals to save by making it fun. PLS models have been implemented internationally and now applications of PLS are being tested in the United States – by financial institutions, businesses, entrepreneurs, and non-profits – to make saving fun and help more people save.