- Behavioral finance experts weigh in on how to change those bad money habits (The Week):
“A more promising solution to fight the urge for instant gratification? Take advantage of technology to keep you in check.
“More and more financial service providers are offering simple tools for tracking and controlling spending with alerts, customizable spending limits and the like,” Zinman says. Some credit card companies will even send you an alert each time you use your card — reminding you how much you’ve spent so far, and how much closer today’s purchase will get you to your limit for the month.”
- Increased education about financial concepts led to decreased rates of bankruptcy (Economist blog):
“Yet those who take on the most debt are the young, people who need to make large investments in education and housing, but who generally lack any experience with financial matters. Fortunately, new research* shows that courses in finance at school can help solve this predicament, reducing the harmful repercussions from taking on too much debt later in life…”
- What two high schoolers tell us about the ingredients for a successful personal finance curriculum (Kiplinger): Classes should be practical, fun and interactive and teachers should be comfortable in their role.