Aug 26

A new study has suggested that students could use help saving more money, but they don’t always know it.

Most people intend to save more money, and spend less, than they currently do. If they were offered a simple way to do so, would they take it? New research suggests the answer is no.

And the reason is that their very good intentions can give rise to a sense of optimism that leads them to undervalue opportunities that could make it easier to actually achieve a long-term savings goal.

“Our results highlight the costs of being too optimistic,” said the study’s senior author, psychology professor Derek Koehler.

Researchers at Waterloo asked students in the university’s co- operative education program to set a savings goal at the beginning of a work term, and then asked them again at the end of the term whether they had met their goal. Co-op stu

Tags: Know