May 3, 2018 by Dan Poniachik
“It’s very hard for me to save, because I have so many day-to-day expenses for my small kiosk. Still, at the beginning of the month I manually transfer part of my commission to my savings account, that way I don’t use it for other purposes during the month. It would be great if this transfer … Read more.
Mar 29, 2018 by Katy Davis, Maddie Kau, & Abigail Kim
Digital tools such as automated savings and investment, expense tracking, and person-to-person payments save people time and help them manage complex finances. Useful features like these can even support overall financial health, particularly for low- and middle-income consumers, if traditional financial services don’t meet their needs. Widespread adoption of these services also benefits financial providers … Read more.
Mar 19, 2018 by Josh Martin & Laura Rawlings
This post originally appeared on NextBillion. Fighting poverty with direct cash payments is more common now than ever before. In 1997, only three developing countries had centrally managed cash transfer programs targeting poverty. Today, more than 120 do, and more than $200 million in cash is distributed daily. The adoption of cash transfers was a significant step … Read more.
Oct 30, 2017 by Vivien Caetano, Katy Davis, & Erin Sherman
It’s one thing to read about behavioral science or attend a one-time training on how it’s been used to improve programs. It’s another to take those insights and apply them to the real world yourself. That was the driver behind our Behavioral Design Project for Promoting Financial Health, in which 11 organizations actively learned behavioral … Read more.
Sep 21, 2017 by ideas42
Over the last year and a half, we collaborated with 11 financial capability organizations to teach them how to apply behavioral insights to their programs. Each organization identified and tackled an initial problem impeding client financial health by leveraging their unique knowledge of the populations they serve. The reach of the Behavioral Design Project (BDP) … Read more.
Aug 7, 2017 by Jaclyn Lefkowitz
What is the cost of making a late loan payment? If you’re like most people, you probably think of late fees. But there are also less visible, longer-term consequences that can have a serious impact on financial wellbeing. For example, late payments affect credit scores, which in turn can affect the ability to access credit … Read more.
Aug 4, 2017 by Katy Davis & Colleen Briggs
This post originally appeared on NextBillion. Imagine you just received the news that you have a serious but treatable medical condition. What would you think about? Perhaps you would fear for your health, or worry about what the treatment’s side effects might be. In a recent study, participants were asked what they would think about … Read more.
Jul 18, 2017 by ideas42
In the United States, more than 45 million people live below the poverty line, including one in five children who will experience its long-lasting effects. While public benefits programs meaningfully impact countless lives by providing essentials like food and health care, many people who are struggling do not receive these benefits for a variety of … Read more.
May 8, 2017 by David Munguía Gómez
Saving money is important not only for long-term needs like retirement but also for expenses in the short term. This is because incomes and expenses are not always constant, and people can’t necessarily predict when they will need more cash. A reliable savings cushion is critical when people encounter large, unexpected costs or lose their … Read more.
Apr 24, 2017 by Katy Davis
As an unabashed finance nerd, I love a good tip about how to improve my financial health. I always look forward to April, Financial Literacy Month, for a flood of recommendations. Managing personal finances is hard, and recent research suggests that a huge proportion of Americans, not just those at the lower end of the … Read more.