IN YOUR DAILY DOSE today are the results of an intervention done after the 2014 tax filing season in which low- and moderate-income filers participated. The goal was to help reduce the increasing financial insecurity in American families, which the researchers felt was a step in the right direction.

IN MAKING CHANGES are four strategies you can use today to meet your savings goal without ever handling the money.

IN FACT OR FICTION you’ll learn about a body of pink water that isn’t filled with artificial dye and which continues to baffle scientists as to the origin of the color.

In The News

In the 2013 tax filing season a Refund to Savings initiative was initiated with over 900,000 low and moderate income families participating. This unique tax intervention program helped these families deposit approximately $5.9 million more into savings accounts than they would have without the intervention.

The Refund to Savings tax initiative is the largest savings experiment in terms of the number of people participating. The intervention is applied when the individual files their taxes electronically and is a collaboration between university researchers and Intuit, Inc., the maker of Turbo Tax.

To overcome the more natural tendency to delay saving their tax refund, the researchers gave the tax filers a choice at the moment of the tax filing, before the money ever reached their hands. The researchers used motivational messages to encourage the filers to put the money into their savings account or receive the refund in the form of a savings bond.

Six months later the filers were also sent a voluntary survey in which the researchers hoped to learn more about how and why people save their money. The ultimate goal is to help people build financial security using the money they already have.

SOURCE: http://www.sciencedaily.com/releases/2014/01/140130152805.htm

Daily Health Tip

Saving a little money from your paycheck each week or month is a healthy habit to start. Just a little savings today can end up padding your bank accounts 20 years in the future. And, saving the money before it even hits your bank account is a great way of saving before you have the money to spend.

Making Changes

You can institute your own saving before seeing initiative in your home with the help of your employer and the Federal Government.

1. When it’s tax time, have your refund deposited to a savings account where you regularly deposit money which you don’t use for daily expenses.

2. Participate in your employer’s 401K savings plan. Have the maximum amount of money you can afford to deposit each month withdrawn from your check. It’s saved before you even see it.

3. If your employer has a health savings plan associated with the health insurance take full advantage. Estimate your health costs for the year and divide by the number of paychecks you receive. Have that amount automatically placed into the account. Now you have pre-tax dollars to spend on doctor visits, medications and dental visits.

4. If your employer has a direct deposit system for your biweekly paychecks, split the amount of money deposited into two different accounts. The majority is deposited into your checking account and at least 10% is deposited into a savings account you use for investments. Make your money work for you, instead of the other way around!

My Daily Affirmation

I feel content, knowing that I can make such a positive impact!

I show my family members my love in words and actions. I use loving tones when I speak to them, even in tough discussions. I freely give hugs and kisses to make each day a good day for them.

Fact Or Fiction?

Where can you swim in pink water that isn’t artificially dyed? And, do you want to if scientists still aren’t sure why the water is so pink? Click here to find out!

Have a wonderful day!

Your Healthy Life America Team