Posts related to “financial inclusion”

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Runaway Trains of Thought: How Boosting Cognitive Bandwidth Can Fight Poverty

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.

The Feedback Card: Real-Time Budgeting for Real People

Jul 25, 2017 by Hyunsoo Chang & Will Tucker-Ray

Millions of Americans struggle to manage their complex finances, even with countless budgeting tools that exist to make the process easier. The myriad of features included in these kinds of tools can even add to the complexity, and they often don’t account for the limited time and attention that people experience in real life. That’s … Read more.

Financial Literacy Month…with a Behavioral Twist

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.

Boost Savings in Chile: We’re Banking on Behavioral Science

Feb 2, 2017 by David Munguía Gómez

Many of us are aware of the usefulness of “rainy day” savings—what we set aside for emergencies and other unforeseen expenses that creep up on us all. Those savings are in addition to those we accumulate to accomplish larger goals we may have like buying a house or planning for retirement. But understanding the importance … Read more.

One Year Later: Behavioral Design in the Mexican Retirement System

Nov 2, 2016 by Marcela Cheng & Andrew Fertig

For millions of people around the world, the consequences of inadequate retirement savings are devastating. The problem is widespread even in countries with formal systems of mandatory contributions to individual retirement accounts. In Mexico, these mandatory contributions amount to less than 40% of a worker’s salary during retirement, and few people make the additional (voluntary) … Read more.

Designing Better Retirement in Mexico

Aug 9, 2016 by David Munguía Gómez

Saving for retirement can feel like giving money to a stranger. Forgoing money in the present to benefit the person we will eventually become—our “future self”—is often a difficult and ungratifying experience. Because of this and other behavioral barriers like the ones we uncovered in Mexico, it should come as no surprise that most people … Read more.

Learning Behavioral Design, Part 1: What Happens When Nobody’s Watching?

Jul 20, 2016 by Vivien Caetano, Katy Davis and Erin Sherman

In the Learning Behavioral Design series, we share lessons from ideas42 projects that aim to teach practitioners how to apply our behavioral design methodology to their day-to-day work. At the launch of ideas42 and JPMorgan Chase & Co.’s new immersive consumer finance initiative, guest speaker Tom Tosuksri wanted to answer one big question that was … Read more.

Three Myths About the Underbanked, Part Three: Affordable Financial Management Is In Reach

May 31, 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.

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.