The messy emotions behind money Say you’re a shopaholic who has racked up credit card debt, which is forcing you to skimp on essentials. Or maybe you took a pay cut in a new job but are accustomed to certain … Continue reading The emotional investor
Buy It With Cash, Mortgage It Later Anthony Corbisiero wanted a quick sale on his studio pied-à-terre in West Chelsea, as he planned to use a portion of the proceeds for his daughter’s looming college expenses. So he and his … Continue reading All-cash mortgage are behavioral?
The Two Biases That Keep People From Saving Money That Americans don’t save enough money is a truism. But why don’t they? The answer is a complex mix of macroeconomics (incomes have stagnated for many workers over the last few … Continue reading Thinking about the future
HSBC’s new Nudge app was inspired by Post-It notes from a bank chief’s wife HSBC is developing a major new app called “Nudge” that aims to help people save money by keeping track of their everyday spending. The high-profile development … Continue reading How to improve spending habits
Subtle psychological manipulations help people make smarter financial decisions Over the past 5 years, on behalf of state governments, nearly 100,000 Americans were gently manipulated by a team of social scientists. In 15 randomized, controlled trials, people in need of … Continue reading The nuance of nudges
Who do you trust and why does it matter? Would you trust a banker? Stop laughing now…you there, in the back, stop it… Now, seriously, would you? More to the point perhaps, would a banker trust you? And what matter … Continue reading Trust is a massive asset
Cracking the financial literacy code It was only in the spring of 2014 that Canada appointed its first Financial Literacy Leader, Jane Rooney, four years after a federal government task force recommended such a position. Rooney’s mission was to combat … Continue reading How to improve financial literacy