How can people get smarter about money? Studies suggest using just-in-time messaging when people need it most, “defaults", which automatically opt people in to savings, and algorithms that give relevant recommendations based on data.
People methodically change their beliefs about financial futures. Many believe a current trend will continue, until it doesn’t. When a new trend starts, they’ll believe that one will continue instead. This means that forecasts are often incorrect, sometimes with dire consequences for the economy.