Among the many lessons that COVID-19 has reinforced is the fact that emergency savings are essential. But saving and budgeting are easier said than done.
Even before the pandemic, BlackRock recognized the need to address America’s widespread financial instability challenges, announcing a $50 million commitment to help millions of people living on low- to moderate-incomes gain access to and increase usage of proven savings strategies and tools to help establish their all-important safety net. Led by their Social Impact team, BlackRock has partnered with innovative industry experts Common Cents Lab, Commonwealth, and the Financial Health Network to give the initiative a comprehensive and multi-layered approach to address the savings crisis.
As saving and budgeting are even more important now, we’ve joined this amazing initiative alongside innovative partners like Mastercard and leading savings researchers Common Cents Lab to address this issue. We look forward to collaborating and further driving financial well-being within our app.
To learn more about theBlackRock Emergency Savings Initiative and our first collaboration with CommonCents Lab, click here.