Works the way you do
It’s more complex – and more simple – than you’d think!
Stop fighting yourself
You’ve got goals and ambitions.
But you do things which take you away from your goals.
So, what’s going on?
You’re a divine but incredibly complex creature.
You have a ‘disciplined self’ that thinks rationally and identifies goals, and an ‘impulsive self’ that takes the easy option when it’s presented to you.
You tell yourself you’ll get up early…
But when your alarm goes off for the fourth time, you hit the snooze button. Again.
You start a low-fat, low-sugar diet…
But look – someone just brought cronuts to a meeting. And they’re free. Munch.
Impulsive you is scoring little victories over disciplined you. Whoops.
… the same applies to savings
You have goals for bigger things…
Travel adventures, a new car, a house deposit – and yet the world is full of traps to catch you out in your weakness. The $15 tee, the banana bread, the extra round of drinks…
So how about impulse savings?
What if we could trick your emotional self into working to the benefit of your disciplined self? You’d end up reaching your goals sooner, almost by accident, right?
That’s the power of Nudge.
Nudge is based on an understanding of ‘behavioural economics’, which is a study of how people behave in real world scenarios. Want to learn more about it?
Read our blog post ‘Are You Smarter than a Squirrel?‘
Now that we’ve flattened the curve medically, it’s time to discuss how we manage the consequences of that action economically. We need to work together to #shortenthedip.
Start saying ‘Yeah, nah…’ to oxymoronic statements
Have you ever stepped back from something you’ve seen or heard a thousand times, and suddenly realised it doesn’t quite make sense?
Why Big Data isn’t your friend
We’re now used to hearing about privacy concerns when it comes to Google, Facebook, and others. These internet giants know more and more intimate details about us – sometimes more than we know ourselves.
Why we love to hate our banks
More than 50% of us are not willing to recommend our bank to others, but on average we keep our transaction accounts with the same bank for 26 years. That shows us Aussies have a fascinating relationship with our major banks… but mostly, we love to bag them.
(or the credit cards…)
In the war of spending versus saving, one thing is often overlooked: spending is visible, and social. In the short-term, saving is invisible and (often) anti-social. It’s no wonder then that there’s such temptation to spend money… even if we can’t afford to.
Big changes, small change, and how it all adds up
My late grandfather used to joke ‘’that guy changes cars like I change my underwear… about once every 2 years or so” (insert wink and nudge). Perhaps if he were alive today, he’d say the same about Australia and its prime ministers.
What these cute critters can teach us, and why we’re nuts about ‘nudging’
Squirrels (and the acorns they collect) have long been used as a metaphor for savings. These industrious little critters store up the nuts when there’s plenty, ensuring they have an ample supply when winter comes. Of course, this behaviour isn’t about discipline and forward planning – if you’re a squirrel, it’s just pure instinct.
When to say ‘no’ in a world screaming ‘yes’
An old poster for V energy drink carried the headline: Advertising = Hey You + Buy This. It’s not a bad summary of a lot of advertising, really. We are constantly presented with messages encouraging us to spend money, and it’s remarkable how often they work. It’s not that spending money is inherently bad, of course. It’s just that we often spend it in ways we don’t intend to.
There’s a simple, but uncomfortable, answer
Check out this picture. You’ll see a cracked iPhone screen and, if you look closely, a bandaged finger. If you’re able to read the Lemonade post on the screen, you’ll see the text to which I’m actually referring.