Do not swipe the small stuff: A randomized evaluation of rules of thumb‐based financial education
Christina Plerhoples Stacy,
Julian Jamison and
Journal of Consumer Affairs, 2020, vol. 54, issue 2, 701-722
We perform the first rigorous test of a rules of thumb‐based approach to financial education on consumer behavior and outcomes. We test two rules of thumb that are targeted at reducing credit card revolving and deliver them in a randomized fashion via e‐mail, online banner, and physical mailer. Using monthly administrative data and pre and postintervention credit data on almost 14,000 consumers, we find that the “Do not swipe the small stuff” rule of thumb reduces participants' targeted credit card balance by an average of 2% at a cost of around $0.50 per person. The “Credit keeps charging” rule shows a decline as well but the impact is not significant.
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:jconsa:v:54:y:2020:i:2:p:701-722
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0022-0078
Access Statistics for this article
Journal of Consumer Affairs is currently edited by Sharon Tennyson
More articles in Journal of Consumer Affairs from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().