Simply said, but not straight forward
14 April 2016
We all want to make better financial decisions. But how? Editorial director, EMEA of The Economist Intelligence Unit Monica Woodley looks back at the recent Think Forward Initiative conference in Brussels to examine what is at stake in helping people manage their finances.
She poses a series of challenging questions for financial institutions, regulators and policymakers that need to be addressed to enable suitable approaches to be framed that empower people to take charge of their money.
The conference concluded that the objective of the Think Forward Initiative should be to determine how to provide “trusted, tailored and transparent financial solutions that are right over the long term, for the entire household”.
A simply-stated goal, but achieving it is unlikely to be a straightforward process, Woodley concludes.
The Think Forward Initiative aims to gain a deeper understanding of personal finance decision-making and use those insights to help people make decisions that are better for them, and ultimately better for society.