Wish you could save more money? A new study led by Katy Milkman, a Wharton professor of operations, information and decisions and the co-director of Penn’s Behavior Change for Good Initiative (BCFG), found that simple reminder emails gave people a small push to transfer money into savings.
To find out whether behaviorally informed email reminders could help spur savings, Milkman — along with over a dozen co-authors, including her Wharton faculty colleagues Angela Duckworth and Christophe Van den Bulte as well as staffers Sean F. Ellis, Dena Gromet, and Ella DeMay of BCFG — ran one of the largest-ever studies on how to encourage people to add to their savings accounts.