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Mind Over Money

What is Mind Over Money?

The Mind Over Money program is the top rated university level student financial wellness program that seeks to provide students with the tools they need to be financially well throughout their life. In our partnership with them, we are bringing tools and resources for studying the impact these programs have on behavior change, then working collaboratively to leverage validated models and methods developed in the lab to increase engagement and behavior change at scale. Through the collaboration, we hope to improve our understanding of what interventions increase healthy financial behaviors.

Current Lab Projects:

  1. Solving the Matching Problem: Our hypothesis is that a major factor in behavior change is matching people will the right behaviors, we are working with the Mind Over Money team to create an expansive list of financial behaviors that promote wellbeing then we are testing different methods of matching students with behaviors and looking at which ones lead to the highest level of behavior change and habit formation.

  2. Behavior Design Training: Members of the lab are co-designing the curriculum to include the behavioral science that underpins successful implementation of a healthy financial behavior. It is not enough to know what to do, we are making sure students know how to do it in a sustainable way. Our hypothesis is that by including an introduction to key behavioral science principles, students will be more effective at implementing suggested behaviors and sustaining them throughout their lives.

    1. Factors:

      1. Co-lecturing the Mind Over Money Course

      2. Embedding Behavioral Science content into the course curriculum

      3. Teaching models and methods of behavior design developed in the lab

Objective: We are looking to study the impact of specific behavior design models and methods have on long term/sustainable behavior change specifically related to financial wellbeing. With that, we are measuring the interventions’ impact on self-efficacy, locus of control, and measurable changes in behavior.