It’s exciting to work on a goal when we initially set it, but things get real. One of the reasons why this happens is because most strategies themselves are hard to teach and difficult to maintain.
In an experiment, people were given a moderately challenging task. They had ankle weight and were told to progress with high knees to complete a race. The people that were trained to focus their visual attention on the finish line moved 27% faster and reported that it hurt 17% less.
Vision is the dominant sense by which we navigate the world. This insights suggests that when we visualise our financial goals, we are more likely to get there.
Imagine every time you spend $4.60 on a flat white coffee, 40 cents goes to your savings account. Nobel prize winner and behavioural economist Richard Thaler advocates: if you want someone to save money, make it easy.
Save the Change automatically tucks away the change from your spending into your savings account. It helps customers save even when they don’t have the time or energy to think about saving.
You simply set the default to round up your transaction to the nearest multiple of $1, $2, $5 or $10. This behaviourally-informed service has saved customers almost $50 million over the past year.
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We help teams apply behavioural science tools to create positive sprinkles of behaviour change. Our toolkit equips change-makers with the mindsets and methods for: (1) social impact, (2) financial wellbeing and (3) sustainability.