Financial Behaviors

Education refers to empowering a person with more knowledge or training than they had previously. While providing information alone is often a suboptimal way to drive meaningful behavior change or long-term interventions, the right message at the right time can be a powerful part of a behavior change strategy.‍

Self-monitoring or tracking simply refers to a person measuring their behavior, experiences, cognition, or other data points over time.Often, merely tracking a behavior can influence the likelihood or frequency with which a person performs the behavior or related ones. For example, many pedometer studies increase walking activity merely by improving awareness, and many interventions that merely consist of rewarding someone for weighing themselves result in weight loss. Similarly, when cognitive behavioral therapy patients track which cues or environments are associated with undesired behaviors or thoughts, they may begin to avoid them.Unfortunately, people often find tracking behaviors tedious and lose interest after a short period, so behavior designers should seek to reduce the burden of self-monitoring by collecting information automatically or doing so in a low-effort way.

Implementation intentions are specific details for when and how a behavior should or will be performed. These are often formulated as ""if-then"" rules, such as:- "if I crave something sweet, I'll have fruit instead of candy"- "if I am in the mood for a cigarette, I'll wait 5 minutes—then, if I still want it, I can have one"Other examples include studies where flu vaccination uptake was higher in groups of people nudged to make more specific plans (i.e. picking a specific time and date, along with a mode of transport to a specific clinic). The same general effect was observed with voting behaviors. These are a generally low-cost tool to slightly improve the gap between intention and performance of a behavior.

Reducing friction or barriers to performing a behavior is simply making it easier or removing things that may be preventing someone from doing something. This is a foundational technique in changing behavior, and part of the UK Behavioural Insights Team's 4-point approach ("Make it easy"). That said, knowing where the friction and barriers exist may not always be straightforward, and different groups of people may experience different barriers in different contexts. Note: It is possible to remove too much friction. In a well-popularized study, a travel booking site found that delays in loading the best deals or travel options actually increased conversions. Similarly, longer input forms in digital interactions sometimes outperform, as people may consider the results more personalized or experience greater cognitive dissonance after having invested so much time in exploring the service.

Feedback entails providing qualitative or quantitative information about a behavior's performance or consequences. Performative information might include data on how a person's current diet tracks with nutrition recommendations or how their home power consumption compares with nearby households.Feedback on outcomes may include information about relative cancer risk based on current lifestyle factors or calculated net worth in 20 years based on the person's current savings rate and investment returns.‍

Environmental restructuring refers to modifying the physical environment around someone in order to influence their behavior.On the less intensive end, this could be as simple as having someone leave a pill bottle in a more obvious location or switch to using a pillbox with compartments for each day. More complex examples include carpooling potential voters to election sites to improve turnout, redesigning a workplace cafeteria layout to bias toward healthier foods, or setting up booths for influenze vaccination in offices or shopping malls.