Turn loss to gain
Can rewards built into an unemployment benefit boost job-hunting motivation? A Brookings blog post reports on a programme in Hungary that found people took less time to find a job if they receive a larger amount of money overall in the first 90 days of job search – harnessing the natural fear of loss.
Advice well earned
Do you know all the fees and payments that your adviser receives? A New York Times piece explains that financial advisers have sometimes been paid to promote investments with lower returns – which can reduce investor income over time. In the US, the government wants to prevent the practice, it says.
Peru bank top-up
A mobile e-wallet system called Bim is taking off in Peru, where fewer than a third of people have bank accounts. According to a Guardian article, Bim is helping people trade easily and conveniently in poor, remote rural areas – especially since most Peruvians have mobile phones. Previously, many people had to hoard cash at home, it says.