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  • People’s finances need more than a one-size-fits-all approach
  • People’s finances need more than a one-size-fits-all approach
    Yelp Inc, Creative Commons (2017) ©

How can banks help poor savers and rash spenders?

Although 64% of Americans say that money is a source of stress, the perception of banks as greedy and uncaring makes it difficult for them to connect with customers who could use their support. So, how can the sector as a whole help those who are prone to spending more than they can save?

Location North America / Northern Europe

Money management is a painful task for many people in the US and UK. It’s a source of anxiety for 64% of Americans, while 22% of Britons say daily money worries are their main cause of stress. [1][2] With research suggesting that spending habits are formed by age seven, and parents in the US proven to be bad financial role models – only 43% set financial goals for themselves – it would seem like there’s not much people can do about their financial habits. [3]

The perception of traditional banks suggests that they ...



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