Getting emotional could boost your savings, a study suggests. Psychologists gave half of a group of people a standard talk on finances; others were asked to bring along an item of sentimental value and think about savings in relation to the emotions they felt. The “emotional” group saved 55% more than the others.
Getting to goal
Want to set a new goal? You might think Mondays or the start of a year would be the best time, but studies suggest choosing a day that’s personally meaningful, as this BBC article explains. Having a “psychologically significant transition point” might motivate you to leave behind your past, imperfect self.
Payday loans are expensive, and many people struggle to understand how the interest on them can stack up. But framing the cost of the loan in dollars, rather than interest rates, means fewer people are tempted, according to the Marketing Society. The effect was strongest for those with less education, too.