How to Trick People Into Saving Money

theatlantic.com · 3,536 words · saved by 2 readers

Inside Walmart’s curious, possibly ingenious effort to get customers to build up their savings accounts

Late last summer , Dawn Paquin started keeping her money on a prepaid debit card from Walmart instead of in a traditional checking account. The wages from her factory job—she works from 9 p.m. to 5 a.m., inspecting blades on industrial bread-slicing machines—now go directly onto the Visa-branded card, which she can use like a regular debit card, though unlike most debit cards, it is not linked to a checking or savings account. She made the switch after a $4 check she wrote to buy coffee for herself and a friend tipped her checking account below the required minimum and triggered $100 in overdr

How to Trick People Into Saving Money

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