Is It a Nudge or a Shove? Even Experts Can Blur the Lines This morning I woke up at what felt like 7:20 A.M., and enjoyed not feeling both under-slept and already late. Instead, I had the great pleasure of … Continue reading Is Daylight Saving a good nudge?
How Virtual Reality Can Boost Retirement Savings What if you could travel into your own future to see what your life will look like in 20, 30 or even 40 years? Well, it turns out that virtual time travel may … Continue reading Connecting with your future self
Can Science Make People Save Money? Friday afternoon is one of the busiest times at RiteCheck, a 24-hour check casher in New York’s South Bronx. At the register, Dayana Machin, 29, jokes with customers as she runs their checks through … Continue reading How to turn check cashers into savers
Getting Workers to Save More for Retirement Saving for retirement should be simple arithmetic — the longer your money has to grow, the more money you should have when you stop working. But saving today for a distant tomorrow isn’t … Continue reading How to be better retirement savers
Digit Launches New Tax Feature to Automate Refund Savings Digit <https://digit.co>, the popular automated savings tool, in collaboration with CommonCents Lab, the financial decision making lab funded by MetLife Foundation, today announced a new feature that automates tax refund savings. … Continue reading Small changes have big effects
Poverty makes financial decisions harder. Behavioral economics can help Last month, behavioral economist Dan Ariely and his team at the Center for Advanced Hindsight opened up the Common Cents Lab. Its goal is twofold: to examine how those living in … Continue reading Finance for poor people
Financial nudging works Having a hard time saving for retirement? You aren’t alone. The problem is that unless we automate the process, saving often becomes an afterthought. After all, it’s way more fun to go out to dinner, take trips … Continue reading Nudges or kicks in the pants?