Jarvis wants to help people gain a feeling of better control over their spending behaviour. Their focus is on ‘life events’. Incentives aren’t big enough to shift behaviours from spending to budgeting.
Financially capable behavior is not just a function of financial literacy – it is also honed by various personal characteristics and peer effects. Educating people on financial literacy alone isn’t enough to positively change behavior. Moving away from traditional methods of financial education, can we induce more receptive behavior utilising tips and tricks that are personally and situationally more relevant than the average abstracts?