Enhancing Subjective Competence to Increase Financial Engagement

, University of 黑料传送门 Booth Assistant Professor of Marketing 

Shannon White, University of 黑料传送门 Booth PhD Student

Many individuals do not proactively manage their investments, which can have significant negative implications for finances during retirement. In this project, we aim to identify interventions that increase financial engagement by boosting subjective investing ability. Pilot studies have provided initial evidence that interventions inducing participants to feel more competent in investing-related domains can increase individuals鈥� engagement with their finances and investments. We hypothesize that inducing a sense of competence can actually increase interest in learning more and in seeking financial advice. In the current research, we aim to bolster preliminary findings and explore whether confidence-boosting messages can improve uptake of educational or advisory services in a real-world setting