OLHSA launches Save for Life Club Posted: March 14, 2017
Thanks to a recent Community Services Block Grant discretionary award for FY 2016-17, OLHSA is launching a new incentive-based financial fitness program for Oakland and Livingston county residents with low household incomes.
The Save for Life Club meets participants, called Savers, where they are financially in life. The program helps Savers shine a light on their financial habits and get the support they need to reach their chosen goals, all while earning bonus rewards (worth $5 to $20) along their journey.
This time-limited, pilot program is primarily based online which makes it easy for Savers to access valuable resources at their convenience. Savers are responsible for tracking and reporting their achievements while they work to improve their financial fitness and obtain bonus awards along the way.
Savers choose from a menu of 20 actions, in any order they like. All actions are based on best-practices and behavioral economics research. Some action items include making a SMART (Specific, Measurable, Attainable, Realistic and Timely) goal, paying off an outstanding debt, reviewing their credit report with a coach, and opening or adding money to a savings account. Savers keep track of their achievements online and on their personal Action Card, and earn one bonus reward for each three completed actions.
For more information about the Save for Life Club, please contact Susan Lindson firstname.lastname@example.org.