Use behavioral finance to put worried clients at ease It may seem counterintuitive to some advisers, but clients both want and need to be told that they’re wrong, according to Paul Blease, the director of OppenheimerFunds CEO Advisor Institute. Clients … Continue reading Behavioral manipulation
How to Trick People Into Saving Money Late last summer, Dawn Paquin started keeping her money on a prepaid debit card from Walmart instead of in a traditional checking account. The wages from her factory job—she works from 9 p.m. … Continue reading Alluring for poor people
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