full transcript

From the Ted Talk by Shlomo Benartzi: Saving for tomorrow, tomorrow

Unscramble the Blue Letters

So that is the program, embarrassingly sipmle, but as we're going to see, extremely powerful. We first implemented it, Richard Thaler and I, back in 1998. Mid-sized company in the Midwest, blue collar employees struggling to pay their bills rpeteaeldy told us they cannot save more right away. Saving more today is not an option. We invited them to save three paceergtne points more every time they get a pay raise. And here are the results. We're seeing here a three and a half-year poierd, four pay rieass, people who were struggling to save, were sviang three percent of their paycheck, three and a half years later saving almost four times as much, almost 14 percent.

Open Cloze

So that is the program, embarrassingly ______, but as we're going to see, extremely powerful. We first implemented it, Richard Thaler and I, back in 1998. Mid-sized company in the Midwest, blue collar employees struggling to pay their bills __________ told us they cannot save more right away. Saving more today is not an option. We invited them to save three __________ points more every time they get a pay raise. And here are the results. We're seeing here a three and a half-year ______, four pay ______, people who were struggling to save, were ______ three percent of their paycheck, three and a half years later saving almost four times as much, almost 14 percent.

Solution

  1. raises
  2. percentage
  3. repeatedly
  4. saving
  5. period
  6. simple

Original Text

So that is the program, embarrassingly simple, but as we're going to see, extremely powerful. We first implemented it, Richard Thaler and I, back in 1998. Mid-sized company in the Midwest, blue collar employees struggling to pay their bills repeatedly told us they cannot save more right away. Saving more today is not an option. We invited them to save three percentage points more every time they get a pay raise. And here are the results. We're seeing here a three and a half-year period, four pay raises, people who were struggling to save, were saving three percent of their paycheck, three and a half years later saving almost four times as much, almost 14 percent.

Frequently Occurring Word Combinations

ngrams of length 2

collocation frequency
behavioral finance 8
behavioral challenges 4
richard thaler 3
great job 2
household spends 2
thousand dollars 2
money mistakes 2
mistakes people 2
ted event 2
wonderful study 2
present bias 2
takes effort 2
twelve percent 2
percent check 2
organ donors 2
loss aversion 2
extremely powerful 2
solid plan 2

ngrams of length 3

collocation frequency
money mistakes people 2

Important Words

  1. bills
  2. blue
  3. collar
  4. company
  5. embarrassingly
  6. employees
  7. extremely
  8. implemented
  9. invited
  10. midwest
  11. option
  12. pay
  13. paycheck
  14. people
  15. percent
  16. percentage
  17. period
  18. points
  19. powerful
  20. program
  21. raise
  22. raises
  23. repeatedly
  24. results
  25. richard
  26. save
  27. saving
  28. simple
  29. struggling
  30. thaler
  31. time
  32. times
  33. today
  34. told
  35. years