The devastating effects of the COVID-19 pandemic have motivated a majority of Americans who are paid hourly wages to save money for the future, according to a new national survey of hourly workers from DailyPay and Funding Our Future. 

For many Americans who punch a time clock, the global pandemic marks the first time they have embarked on a personal savings initiative. Nearly two-thirds of respondents — 65% — said they don’t have any type of savings account, and 41% said they almost never put money away for the future. 

Those attitudes may shift, however. According to the survey, 51% of those polled said they are now more likely to save for the future, compared with 15% who said they were less likely to save. 

“Far too many Americans lacked savings even before this pandemic, and their struggles with financial stability have only intensified,” said Kara Watkins, campaign manager for Funding Our Future. “This survey demonstrates the need for actionable solutions to help households save for an emergency and their future.”

Launched in 2018, Funding Our Future describes itself as “a bipartisan and cross-sector coalition of more than 40 organizations working towards retirement security for all Americans.” The campaign was launched by the Bipartisan Policy Center, and today has representation from the education and nonprofit, trade association and corporate sectors. 

A partnership between Funding Our Future and fintech company DailyPay could provide an opportunity for more employers to offer a savings option to their employees as a company benefit, the organizations said.

DailyPay, which is based in New York City with operations in Minneapolis, provides an on-demand pay platform to more than 2 million hourly employees for clients that include Kroger, Adecco and Berkshire Hathaway. It now offers a “Save” function that makes it easy for workers in client companies to set aside money from their paychecks.

“The Save function we created at DailyPay as part of our industry-leading on-demand pay platform allows users to allocate money to savings, free of charge, either every day, every week or as needed,” said Matthew Kopko, vice president of public policy for DailyPay. “For many, this will be the first time they have ever started a savings program, embarking on the road to financial security at a time it’s needed most.”