Behavioral Design Guide: Tools To Manage Spending
See how to design tools that help people manage their spending and improve financial health outcomes by applying promising approaches from behavioral science.
These 2 iconic large companies are doubling down on their equity efforts
The Large brands recognized as Brands That Matter have used their size and name recognition to push high-minded goals.
Natural disasters are disastrous for consumers’ financial health
For the past five years, the US has been confronted with an average of 18 natural disasters per year. This year, as of August 15, natural disasters have already racked up losses of more than $1 billion each. With the climate changing, these events are becoming more frequent and with each event, many Americans take on financial damages.
“Buy now, pay later” plans can rack up steep interest charges. Here’s what shoppers should know.
Although U.S. consumers have embraced "buy now, pay later" loans in part because of marketing claims that they offer zero-percent financing, shoppers should be on their guard. Some BNPL products charge exorbitant interest rates, along with heavy fees when you miss a payment, according to Consumer Reports.
New Buy Now, Pay Later Loans Come With More Risks
Companies like Affirm, Klarna, PayPal, and Sezzle that offer interest-free pay-in-four loans also provide longer-term loans that can have high interest rates, confusing consumers.
The time to change your overdraft policy was yesterday
My colleagues at Financial Health Network recently released research citing that amid government policy overhauls and renewed regulatory attention to overdraft and NSF fees, understanding when, how, and why members overdraft should inform further shifts in credit union practices and regulatory actions.
2023 FinHealth Spend Report Finds Fees and Interest on Non-Mortgage Financial Services Skyrocket 14% to $347 Billion
New research from Financial Health Network documents the real cost to Americans of rising interest rates and expanding post-pandemic credit balances
FinHealth Spend Report 2023
What are Americans paying for financial services as the country emerges from the COVID-19 pandemic? This year’s FinHealth Spend Report – our long-running national study on the costs of financial services to U.S. households – reveals that spending has soared in the past year amid a turbulent economy and persistent inflation.
Behavioral Design Guide: A Financial Health Approach to Credit Card Products
Learn how to design credit products that address consumer challenges and improve financial health outcomes by applying proven behavioral science techniques.
2022 FinHealth Spend Report Marks First-Ever Decline in Ten Year History of Tracking Fees and Interest Paid for Everyday Financial Services
Reduction attributed to student loan debt moratorium, pandemic-related decline in credit card debt and government stimulus funds allowing many to avoid high-cost lending; but underserved populations still pay greater proportion of fees and number of factors indicate likely rise in year ahead.
FinHealth Spend Report 2022
This year’s annual FinHealth Spend Report examines how households in America managed their finances and accessed credit during the second year of the pandemic, analyzing year-over-year trends for more than two dozen financial products and services.
Financial Health Network Releases New Research Finding that Financially Vulnerable Consumers Most Likely to Use and Struggle With Repaying Buy Now, Pay Later Loans
Data also shows overwhelming majority of users understand terms and are successfully using the product.