The Cycle of Savings: What We Gain When We Understand Savings as a Dynamic Process

Sheida Isabel Elmi

Associate Director, Insights and Evidence

We know saving is important – but our assumptions about why may be wrong. A new report from Aspen Financial Security Program and members of the Consumer Insights Collaborative shows that, for many, the value in having savings available goes beyond being able to cover one-time emergency expenses.

This report illustrates the importance of the ongoing act of building, using, and replenishing savings – or “the cycle of savings” – allowing people to protect themselves against the immediate economic impacts of a pandemic, invest in family well-being, and stay on track for their longer -term goals.

The report also highlights opportunities for key actors to build products that enable people to make savings a habit.


This paper was also developed as part of the Global Inclusive Growth Partnership, a collaboration between the Aspen Institute and the Mastercard Center for Inclusive Growth, along with generous support from the BlackRock Charitable Fund, JPMorgan Chase & Co., MetLife Foundation, The Prudential Foundation, and the W.K. Kellogg Foundation.

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