Examples
Examples
Definitions
100
What are you planning to do with your refund next month? Have you thought about a savings account?
What is mental accounting
100
By not looking at your budget, you could be losing $200 per month
What is loss aversion
100
This theory believes everyone behaves rationally and in their own best interest
What is regular economics
200
By completing this baseline, you are entered into a raffle to win a $20 gift card!
What are incentives
200
Here is a card with the time, date and directions to our next workshop. We will also be calling to remind you
What are channels
200
This theory believes that everyone is susceptible to errors in judgment, and that there are other factors that impact our decisions, like hassles
What is behavioral economics
300
How much are you planning on saving out of your tax refund this year? We have found most people try and save at least 20%
What is social norms
300
Most people find that the first spending plan is the hardest, but it gets easier after that
What are social norms
300
What concept states that people will often change their behavior to match that of their peers
What are social norms
400
If you do not want to be enrolled in this workshop, please let me know
What is a default?
400
You are signed up for your 401k at a 2% contribution rate. Please fill this paperwork out if you would like to change it
What is a default
400
What concept acknowledges that people are more likely to stick with the option you present than change it?
What are defaults
500
Think of a time when you did something successful as the head of your household. Now, let's look at your budget
What is identity affirmation, or priming
500
Many people run longer when they see the number of calories spent on the treadmill screen
What is an incentive
500
This concept shows that people will spend money differently depending on the source
What is mental accounting
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