Part 3: PERSONAL FINANCE & PENSIONS
If you could meet your future self, what would they say?
One scenario is Thank you for staying so healthy and saving for my retirement. I feel free to enjoy life as I please.
Another may be I’m broke and will have to keep on working. It would have been great if you had saved more so that I could relax and not have to worry about money.
Firstly let’s all agree that we don’t save enough for retirement and it’s hard to change our habits especially now with the cost of living crisis.
HSBC research showed in a study called the Future of Retirement: A New Reality that of the 15,000 people surveyed across 15 countries, almost half have never saved for retirement.
Finance organisations probably find it hard to engage existing and new customers to save and invest more longer term. Changing customer habits is hard.
Research also shows that if customers can visualise their future self, they will empathise more and make more deposits for later.
In Mexico where 41% of the older population live in poverty, a free finanical app provided by the government gave the option to users to see their future self. Those who did, saved 13% more than those who did not. Overall the Change My Face software improved deposits by 54%.
Change My Face provides finanical future self apps and software for Visa, Scottish Widows, AON, EdgeCo Holdings and PBU.
Ask us for a demo to see how you will look with a better financial outcome.