Nudging financial literacy and behaviours among low self-control young adults: A randomized controlled trial

1150 Muirhead Tower
Wednesday 16 October 2019 (12:30-13:30)

Helen Harris

A CHASM Seminar

Speaker: Amer Azlan, PhD Student, School of Social Policy


Financial education has become the popular tool in helping individuals to be financially literate and make sound financial decisions. However, its effectiveness as a stand-alone solution is still questionable as it is yet to fully capture issues on psychological biases that exist in the current financial marketplace. Behavioural proponents argued that lack of self-control has the potential to stymie the connection between knowledge and behaviours. In line to this, prior studies suggest the use of cell phone text messages (as an additional nudging technique) to assist people make better decisions, which have positive impacts on human decision-making process across various fields.  

Using experimental design, this research aims to examine the effectiveness of the traditional financial education program complemented with delivery of SMS reminders towards improving financial literacy and self-control in three aspects of financial behaviours, namely budgeting, savings and cash management. The outcomes of this study provides better understanding on the link between behavioural economics and individuals’ financial behaviour, and also the use of SMS reminders as an important complement that can bridge the gap between financial knowledge and behaviour change. 

If you would like to attend, please contact Helen Harris at