How reminders can help manage money

A Little Nagging Can Help Reduce Credit Card Debt

While no one likes to be nagged, a bit of prodding — with periodic emails or online messages — can help consumers reduce their credit card debt, a new study has found. The research, conducted by the Urban Institute and the D2D Fund, sought to determine if reminding people about simple financial “rules of thumb” could help them lower their credit card debt. The six-month study involved nearly 14,000 customers of the Arizona Federal Credit Union in Phoenix who carry balances on their credit cards rather than paying off the balance each month — known as revolvers. ….[READ]