Prof. finds texting promotes saving
In what may be a vote of redemption for much-maligned text messaging, a recent study by a team of economists, including Dartmouth economics professor Jonathan Zinman, has found that when individuals received text messages reminding them to save, their account balances increased on average by 6 percent. The study found that the tendency to not save money is due to a lack of attention to saving, rather than a lack of self-control. The economists worked with three banks in Bolivia, Peru and the Philippines to monitor the savings patterns of new bank clients.