How can behavioural economics help us improve our financial decision making?
Joining me today to help us understand the world inside behavioural economics is Melaina Vinski. Melaina has her Masters of Science and Phd in Cognitive Neuropsychology and is a Behavioural Economics Lead at PwC Canada.
Do you ever wonder what you can do to change your behaviour for the better when faced with making financial decisions? The good news is – we can turn to the field of behavioural economics to provide us useful insights about financial decision making in a given context. But how do these insights use the science and knowledge of human behaviour to decide how to solve problems in order to get the best results?
When it comes to women and finance, behavioural economics provides insights for designing better financial literacy products and programs that can help manage money and debt wisely, to plan and save for the future.
Thanks to behavioural economics insights, financial sectors can design programs and products to strengthen the financial literacy of women and empower them to be confident decision makers.
This relatively new field combines insights from psychology, judgment, decision-making, and economics to generate a more accurate understanding of human behaviour.
And it’s this understanding of human behaviour that will help organizations implement opportunities to create smarter, more targeted and effective financial literacy programs for all.
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All episodes of Finance is Personal are recorded in the Toronto and surrounding area, Ontario Canada. Comments expressed in each episode are those of the guest speakers and are not to be considered as specific advice tailored to the circumstances or a specific individual. Comments are intended to be general and for informational purposed only, based on information and conditions prevalent at the time of the recording. Viewers should not consider or place specific reliance on content presented as comprehensive advice, nor as an offer or solicitation to buy and/or sell securities. Individuals are strongly encouraged to seek professional advice specific to their circumstances. Market, economic, regulatory and political conditions and obligations change. Finance is Personal accepts no responsibility for individual decisions made based on reliance on the information presented in each episode.
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Changing behaviour to benefit financial decision making with Melaina Vinski
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