Name: Why talking to your friends can help you save money
Uploaded: 2021-02-24T15:23:59Z
Duration: 3 min 30 s
Description: What convinced British citizens to send in their taxes on time? And what resulted in San Diego residents reducing their energy consumption? Learning that their neighbors were doing it. Behavioral psychologist Wendy De La Rosa shares the surprising power of our peers and how we can use it to improve our financial habits.

What convinced British citizens to send in their taxes on time? And what resulted in San Diego residents reducing their energy consumption? Learning that their neighbors were doing it. Behavioral psychologist Wendy De La Rosa shares the surprising power of our peers and how we can use it to improve our financial habits.

Wendy De La Rosa: Why talking to your friends can help you save money

Why talking to your friends can help you save money

A study reveals proximity to lottery winners increases neighbors’ spending and bankruptcy rate, highlighting social spending cues.

Celebrating financial milestones with friends, like debt repayment, fosters a supportive community for achieving financial wellness.

Emulating neighbors' fiscal habits, like timely tax payments or energy savings, boosts social compliance and financial prudence.