Posts related to “consumer finance”

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Introducing Gov42

Mar 28, 2016 by Gov42 Team

Tax Day – April 18 – is just around the corner. But you probably don’t need the reminder since you effortlessly filed your return in January, right? Taxes are a pain. You have to track down documents, navigate jargon, and answer countless questions. On top of the hassles, it’s anxiety-inducing to figure out how much … Read more.

Three Myths About the Underbanked, Part Two: “I Can Tell You Exactly Where My Paycheck Is Going”

Mar 17, 2016 by Katy Davis & Nicki Cohen

Why we’re wrong about lower income consumers, a three-part series Products and services that help low- and moderate-income (LMI) consumers manage their day-to-day finances and improve their long-term financial health are a clear need that hasn’t yet been solved by mainstream or alternative financial providers. Why haven’t the needs of LMI consumers been met by … Read more.

Guest Post: FinLab Pushes Financial Health Agenda, One Challenge At a Time

Mar 4, 2016 by Financial Solutions Lab

This blog originally appeared on the CFSI/JP Morgan Chase Financial Solutions Lab Medium. ideas42 is proud to serve as a behavioral advisor to the Lab.  In New York, 22-year-old Sean had been using a savings app called Even for about eight weeks when he realized something that surprised him: by automatically saving his higher-than-average income, he’d … Read more.

Three Myths About the Underbanked, Part One: What Is a “Rainy Day” When It’s Always Drizzling?

Feb 17, 2016 by Katy Davis & Nicki Cohen

  Why we’re wrong about lower income consumers, a three-part series Products and services that help low- and moderate-income (LMI) consumers manage their day-to-day finances and improve their long-term financial health are a clear need that hasn’t yet been solved by mainstream or alternative financial providers. Why haven’t the needs of LMI consumers been met … Read more.

A Pathway to Better Retirement in Mexico

Nov 10, 2015

It’s simply a fact that many products, policies, and services created specifically to benefit everyday people are either under-used or not used at all. Whether it’s helpful savings tools, financial aid for education, or comprehensive health insurance plans, many of us simply never enroll or use them despite intending to do so. So what’s going … Read more.

Introducing the ideas42 Directory of Academic Experts in Behavioral Science

Sep 3, 2015

We probably don’t need to tell you, savvy reader, that behavioral science is fascinating. The insights on human behavior that have come from the last few decades of research are not only profound and compelling, but can also delight. Take loss aversion. First demonstrated by Daniel Kahneman and Amos Tversky, this principle says we dislike … Read more.

Boosting Financial Health with a Simple Phone Call

Aug 13, 2015

In the U.S., 44% of households are considered “liquid asset poor”, lacking savings to cover basic expenses for three months. What would it take to increase the financial resilience of these families? Could you do it with a simple 30-minute phone call? At ideas42, we think so. With funding from MetLife Foundation under its financial … Read more.

A New Model for Financial Education

Jun 16, 2015

Most car owners know that regular oil changes keep their cars running smoothly. Every few months, they visit their local dealerships, service stations or Jiffy Lubes and drive off 15 minutes later with the maintenance complete. But what if places like Jiffy Lube didn’t provide direct services? What if instead they hosted one-hour informational seminars … Read more.

How Behavioral Science Can Improve Financial Technology Innovations

Jun 11, 2015 by Eldar Shafir

Like many of us, I’m lucky enough to be able to manage my daily life while devoting just a sliver of my mind to looking after my personal finances. But for lower-income American households, navigating continuously challenging financial situations takes up a significant portion of their time, attention, and cognitive resources. Since we are all … Read more.

Behavioral Design Lessons for Improving Consumer Financial Health

Mar 30, 2015

Imagine you’ve been stuck in a meeting that ran into the lunch hour and you’re hungry—really hungry. You’ll focus on your hunger, craving whatever is closest and finding it tough to stick to long-term nutritional goals like maintaining low cholesterol. A very hungry version of you will also be more easily deterred by any short-term … Read more.