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Your Report
During this activity you identified your problem, high level goal and the specific behaviour you are trying to change. You can see these below.
Problem:
people are anchored while making credit card payments to the "minimum payment option". when the total outstanding amount and minimum payment amount are displayed, the large difference makes the minimum amount seem like the more attractive option. people underestimate how interest rates on the outstanding amount compound.
High Level Goal:
reduce credit card debt and confusion around interest rate calculations (people underestimate how long it takes to repay credit card debt)
Behaviour to change:
payments about the minimum required amount
Below are each of the barrier cards you selected as part of this activity.
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