Posts related to “savings”

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Cocoa Farmers Grow Their Savings

Aug 29, 2016 by Alex Blau

Since her husband passed away a few years ago, Marwah has taken care of her family’s cocoa farm all by herself. She is motivated by a promise she and her husband made to help finance their youngest son’s college education. But like many who manage small cocoa farms in Indonesia, Marwah struggles to save money. … 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.

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.

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.

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.

Will Increased Freedoms for British Pension Holders Lead to Bad Decisions?

Feb 23, 2015

In April 2015 the UK Government will introduce big changes to the rules surrounding how people can access their pension pots. The changes are complex, but the overall effect will be to give pension holders much more flexibility to spend or invest their savings as they choose when they reach 55. With this increased freedom … Read more.

Promoting Financial Inclusion for More Americans: The Financial Innovation Lab Presented by American Express

Sep 5, 2014

Approximately 70 million American adults are considered unbanked or underbanked, and are forced to manage their money through costly alternative financial services that operate outside of the traditional banking system. These services, such as check-cashers and payday loans, impose large fees that often accumulate over time, which can trap consumers in cyclical and deepening debt. An alarming … Read more.