Spending behavior hard to change
It is not easy to teach people to stop wasting money. “Therapy for people with bad financial behaviour does not work”, economics professor Henriette Prast said in daily newspaper Metro.
Campaigns that should improve financial awareness among people are not helping. Decisions about money are taken unconsciously in a certain part of the brains. Common sense has no influence on that.
Prast nevertheless sees one bright spot. “People have willpower to do things better.” According to her, bank accounts without bank card, biweekly salary payment and automatic savings should be encouraged.
