Want People to Make Better Financial Choices? Give Them Better Financial Choices
(by Kate Griffin, CFED)
“The choices people make are the choices people have.”
I’ve been on a search to understand how the health field approaches behavior change, to find lessons for our financial work. In reading the remarkable story of Louisville, KY — and especially the personal story of Steve Tarver, CEO of the Louisville YMCA — this remark struck me.
While Steve wasn’t talking about financial health, I think his words are as true in our financial lives as they are anywhere else. When it comes to the ways in which people manage their money, the choices people make are only as good as the choices they have. I believe the challenge we face, then, is how we can change the choices people feel are available to them.
Last month, I had the pleasure of speaking from the mainstage at CFED’s Assets Learning Conference, which brought together 1,300 professionals and 350+ speakers to share ideas about how we can help people take control of their financial lives and build their financial well-being. I shared three lessons that we’ve learned over the past year as we’ve taken What It’s Worth on the road that will effectively change the choice for millions of financial vulnerable Americans.
