SaverLife: Helping microentrepreneurs build financial security through personalized resources and savings tools

Our programs

SaverLife is a nonprofit with 650,000+ members that uses technology to improve the financial health of microentrepreneurs and people living on low-to-moderate incomes.

How SaverLife supports small businesses in the United States

  • Many microentrepreneurs in the U.S. operate at the intersection of personal and business finances, often without recognizing themselves as small business owners. This overlap can limit their access to resources specifically designed for entrepreneurs.
  • SaverLife, a national nonprofit and financial advocacy organization, uses technology to help people build financial security and works toward a more inclusive economic system. The platform rewards members for saving, while also providing personalized content and financial guidance to support long-term behavior change.
  • In 2022, SaverLife launched a pilot initiative targeting U.S. microentrepreneurs to better understand their financial challenges and aspirations. The campaign offered savings challenges, cash rewards, and personalized content focused on financial goals. Within ten weeks, over 9,000 microentrepreneurs joined the SaverLife community, and the organization was able to conduct deeper research on the financial hurdles faced by self-employed individuals.

Program overview

Our work together

  • With support from Mastercard Strive USA, SaverLife is expanding its 2022 pilot to reach even more microentrepreneurs across the United States. The initiative includes targeted digital marketing to bring more self-identified entrepreneurs into the SaverLife community, applied research to test interventions that address the unique financial realities of microentrepreneurs, and new rewards and savings challenges designed to increase engagement on the platform. SaverLife is also delivering tailored content on topics such as choosing a lender, separating personal and business finances, and preparing for tax season — all aimed at helping microentrepreneurs build lasting financial stability.

By the numbers

  • SaverLife members deposit, on average, 15% of their income into savings, and increase their savings rate by 2.4 times after joining the platform. 
  • Since expanding its focus on microentrepreneurs, SaverLife has grown this segment of its membership by more than 6,000 people, with the percentage of active savers rising from 57% to 98%. 
  • As part of the program, SaverLife has also distributed over $10,000 in micro-grants to more than 100 microentrepreneurs.

“Microentrepreneurs face many challenges while navigating the intersection of their personal finances and business goals. This intersection is where SaverLife focuses on creating the most impact and support for these early-stage entrepreneurs.”

Leigh Phillips

President & CEO, SaverLife

Share this article