1. Time Perspective & Financial Literacy 31 July, 2014

2. Agenda Why we did the study How we did the study Results Applications

3. Why we did the study

6. Marketing rarely focuses on product value Products are frequently complex Complexity usually means expensive

7. Why we did the study

9. How do people make financial decisions? Is financial literacy sufficient to be financially healthy?

10. How we did the study Zimbardo Time Perspective Inventory (36 questions)

11. How we did the study Time Perspective –Professor Zimbardo (Stanford Prison Experiment) –Past, Present & Future –We all have an approach to time – it impacts our decisions

12. How we did the study Traditional financial literacy quiz Self-assessment of financial literacy (scale of 1 – 7)

13. How we did the study Bankruptcy, foreclosure, non-bank borrowing

14. How we did the study

15. Over 3,000 people

16. How we did the study

17. Results Traditional financial literacy (acumen) can not be used to predict financial health Time perspective is correlated to financial health

18. Results

23. Financial Health Rankings:

24. Applications Improving financial health requires a more balanced time perspective There are many public policy, educational and economic consequences

25. Applications

27. And there are more

28. Thank You www.magnifymoney.com