Ian's list

Top picks from the web on money and your life, from ING economist Ian Bright – July 17, 2015

Time is money

Time is money

Like to take your time when shopping? An in-depth study, of 400 US shoppers, finds the risk of buying an extra or unplanned item rises if we spend longer in the store. Researcher Timothy Gilbride also found that unplanned purchases themselves can erode self-control and lead to more spending. "This effect grows stronger over the course of the trip," Gilbride told Time magazine.

Pension pot nudges

Pension pot nudges

Nudges to save more into pensions only work when the default amount is just right – neither too high nor too low, blogs economist Tim Harford. If too high, people simply opt out; if too low, a smaller "pot" may be swallowed by admin fees. "Three per cent of salary could conceivably be worse than the old opt-in default of zero," Harford notes.

Sharing new cars

Sharing new cars

Car makers are starting schemes that help buyers share their newly-purchased vehicles with other people for money. A Financial Times article (paywalled) reports that Ford, General Motors/Opel and BMW are supporting several "car-sharing" programmes. "In each case, a portion of the fee paid by the person renting the car goes to the vehicle owner, with the remainder passing to the manufacturer, partly to cover insurance," journalist Andy Sharman writes.

ShoppingPensionsCars

Ian Bright
Ian Bright

Senior economist at ING
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