In tough economic times, saving money is on everyone's mind, and maybe soon. . . on our phones? A group of economists recently conducted a study in Peru, Bolivia, and the Philippines that involved sending text messages to people encouraging them to save money in a savings account. Occasionally, participants would get a text message reminding them to save toward a specific goal.
Researchers sent a variety of messages over the course of the study, both positive and negative:
"'If you don't frequently deposit into the Gihandom Savings account, your dream will not come true,' warned one message in the Philippines."
Well, when you put it like that — who can resist saving?
Researchers claim that although the study was conducted in third world countries, they would expect the results to translate similarly to the US. I think this sounds like a great idea and could be the perfect small reminder to keep my mind on my savings account. What do you think?
Preen
Liberty
Loriblu
I'm pretty aware of my financial situation, especially if I'm at a point where I should not be spending money. If that is the case, then it is already stressing me out, and I think text messages would just really annoy me...
1i have a reminder in Remember The Milk to put so much money into my savings every month. It helps!
2yeah. i need an "external motivator" or else i'll forget about it..
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