At your fingertips
Savings app Digit will soon transfer sums from US tax refunds to savings automatically, a BusinessInsider report says. Digit already “decides” savings by tracking income and spending, moving a little to savings every two or three days. Automation can help people sidestep inertia – and save more.
Notes gone? Nein!
Plans in Germany to ban cash payments of more than €5,000 have met with fury, according to news site The Local. Cash limits are standard in many countries, writes reporter Jörg Luyken, but it seems coin-carrying Germans take a dim view, arguing the move is a form of spying.
Spending to save
It is easy to actually spend more when trying to save, Sendhil Mullainathan notes in the New York Times . He says people do more to get a $50 item for $40 than for $15 off a $400 item: proportionally, the smaller sum seems like a bigger saving – with wealthier folk more apt to make mistakes.