Harnessing Emotional Connections to Improve Financial Decisions: Evaluating the Impact of Financial Education in Mainstream Media

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dc.creatorZia, Bilal
dc.creatorBerg, Gunhild
dc.date2013-07-10T18:10:38Z
dc.date2013-07-10T18:10:38Z
dc.date2013-04
dc.date.accessioned2026-07-01T00:58:56Z
dc.descriptionThis paper exploits the emotional connections and viewer attentiveness of mainstream media to evaluate the economic impact of financial education messages on debt management delivered through a popular television soap opera in South Africa. The study uses a symmetric encouragement design to compare outcomes of individuals who were randomly assigned to watch a soap opera with financial messages, "Scandal!" to those of individuals who were invited to watch a similar soap opera without financial messages, "Muvhango." Both shows overlapped in evening primetime and had similar past viewership profiles. The financial storyline spanned two months and featured one of the leading characters of the show borrowing excessively and irresponsibly through hire-purchase, gambling, and ending up in financial distress; and eventually seeking help to find her way out. Two intermediate and one final follow-up surveys were conducted as part of the study. The analysis finds individuals assigned to watch Scandal had significantly higher financial knowledge of the issues highlighted in the soap opera storyline, in particular messages delivered by the leading character. On behavior, Scandal viewers were almost twice more likely to borrow from formal sources, less likely to engage in gambling, and less prone to enter hire purchase agreements. Messages promoting a national debt mediation helpline delivered by an external character did not sustain traction beyond immediate interest. Three qualitative focus groups highlight the importance of emotional connections with the leading character in motivating behavior change.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2013/04/17561771/harnessing-emotional-connections-improve-financial-decisions-evaluating-impact-financial-education-mainstream-media
dc.identifierhttps://hdl.handle.net/10986/14445
dc.identifierhttps://doi.org/10.1596/1813-9450-6407
dc.identifier.urihttp://hdl.handle.net/123456789/413830
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, D.C.
dc.relationPolicy Research Working Paper;No.6407
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectADVERTISING CAMPAIGNS
dc.subjectALCOHOLIC
dc.subjectARREARS
dc.subjectATM
dc.subjectAWARENESS CAMPAIGN
dc.subjectBANK ACCOUNT
dc.subjectBANK ACCOUNTS
dc.subjectBANKS
dc.subjectBEHAVIOR CHANGE
dc.subjectBEHAVIORAL EFFECTS
dc.subjectBORROWER
dc.subjectBORROWING
dc.subjectBORROWING MONEY
dc.subjectBROCHURES
dc.subjectBUDGETING
dc.subjectBULLETIN
dc.subjectBUSINESS DEVELOPMENT
dc.subjectCALL CENTER
dc.subjectCALL CENTERS
dc.subjectCAPTIVE AUDIENCE
dc.subjectCONSUMER
dc.subjectCONSUMER CREDIT
dc.subjectCONSUMER LOAN
dc.subjectCONSUMER PREFERENCES
dc.subjectCONSUMERS
dc.subjectCONTRACEPTION
dc.subjectCONTRIBUTION
dc.subjectCONTRIBUTIONS
dc.subjectCREDIT BUREAU
dc.subjectCREDIT COUNSELING
dc.subjectCREDIT PROVIDER
dc.subjectCREDIT PROVIDERS
dc.subjectCREDIT STATUS
dc.subjectDAY-TO-DAY MONEY MANAGEMENT
dc.subjectDEBT
dc.subjectDEBT MANAGEMENT
dc.subjectDEBTS
dc.subjectDELIVERY MECHANISMS
dc.subjectDEMAND FOR SAVING
dc.subjectDEMOGRAPHIC PROFILES
dc.subjectDEPOSIT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT POLICY
dc.subjectDISPOSABLE INCOME
dc.subjectDISSEMINATION
dc.subjectDIVORCE
dc.subjectDOMESTIC VIOLENCE
dc.subjectDRUG USE
dc.subjectDURABLE
dc.subjectDURABLE GOODS
dc.subjectEARNINGS
dc.subjectECONOMIC ANALYSIS
dc.subjectEDUCATIONAL ATTAINMENT
dc.subjectEMERGENCIES
dc.subjectEMPLOYEE
dc.subjectENROLLMENT
dc.subjectEQUALITY
dc.subjectEXPENDITURE
dc.subjectFAMILIES
dc.subjectFAMILY MEMBER
dc.subjectFAMILY PLANNING
dc.subjectFAMILY PLANNING METHODS
dc.subjectFAMILY SIZE
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFEMALE GENITAL CUTTING
dc.subjectFEMALE RESPONDENT
dc.subjectFEMALE RESPONDENTS
dc.subjectFERTILITY
dc.subjectFERTILITY RATES
dc.subjectFEWER CHILDREN
dc.subjectFINANCES
dc.subjectFINANCIAL ADVICE
dc.subjectFINANCIAL ADVISOR
dc.subjectFINANCIAL ADVISORY SERVICE
dc.subjectFINANCIAL BEHAVIOR
dc.subjectFINANCIAL BEHAVIORS
dc.subjectFINANCIAL CHOICES
dc.subjectFINANCIAL CONCEPTS
dc.subjectFINANCIAL DECISION
dc.subjectFINANCIAL DECISIONS
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL EDUCATION
dc.subjectFINANCIAL EDUCATION PROGRAM
dc.subjectFINANCIAL EXPERIENCES
dc.subjectFINANCIAL INCENTIVE
dc.subjectFINANCIAL INCENTIVES
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL KNOWLEDGE
dc.subjectFINANCIAL LITERACY
dc.subjectFINANCIAL LITERACY CENTER
dc.subjectFINANCIAL LITERACY TEST
dc.subjectFINANCIAL LITERACY TRAINING
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MATTERS
dc.subjectFINANCIAL MISMANAGEMENT
dc.subjectFINANCIAL OBLIGATIONS
dc.subjectFINANCIAL OUTCOMES
dc.subjectFINANCIAL PLAN
dc.subjectFINANCIAL PROBLEMS
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL RESPONSIBILITY
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SERVICES INDUSTRY
dc.subjectFINANCIAL SITUATION
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL TROUBLE
dc.subjectFOCUS GROUP DISCUSSIONS
dc.subjectFOREIGN POLICY
dc.subjectFORMAL BANK
dc.subjectFORMAL BORROWING
dc.subjectFORMAL EDUCATION
dc.subjectFORMAL FINANCIAL INSTITUTIONS
dc.subjectGENDER
dc.subjectGENDER DIFFERENCE
dc.subjectGENDER DIFFERENCES
dc.subjectHIV
dc.subjectHOME IMPROVEMENT
dc.subjectHOMEOWNERSHIP
dc.subjectHOMEOWNERSHIP COUNSELING
dc.subjectHOUSEHOLD DEBT
dc.subjectHOUSEHOLD EXPENSE
dc.subjectHOUSEHOLDS
dc.subjectHUSBAND
dc.subjectHUSBANDS
dc.subjectIMMIGRANTS
dc.subjectINCOME GROUPS
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINDEBTEDNESS
dc.subjectINDEPENDENT FINANCIAL ADVISERS
dc.subjectINFANT
dc.subjectINFANT MORTALITY
dc.subjectINFANT MORTALITY RATES
dc.subjectINFORMED FINANCIAL DECISIONS
dc.subjectINSTALLMENT
dc.subjectINSTALLMENTS
dc.subjectINTEREST CHARGES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FAMILY PLANNING
dc.subjectINTERNATIONAL FAMILY PLANNING PERSPECTIVES
dc.subjectKNOWLEDGE GAP
dc.subjectLIVING STANDARD
dc.subjectLIVING STANDARDS
dc.subjectLOAN CONTRACT
dc.subjectLOAN DEMAND
dc.subjectLOAN PAYMENTS
dc.subjectLOAN PERFORMANCE
dc.subjectLOAN PERIOD
dc.subjectLOAN SHARKS
dc.subjectLOAN TERMS
dc.subjectLOW INCOME
dc.subjectLOW INCOME GROUPS
dc.subjectLOW-INCOME
dc.subjectMALARIA
dc.subjectMARKETING
dc.subjectMASS MEDIA
dc.subjectMEDIA CAMPAIGNS
dc.subjectMINORITY
dc.subjectMINORITY GROUPS
dc.subjectMINORITY WOMEN
dc.subjectMONTHLY PAYMENTS
dc.subjectMORTGAGE
dc.subjectMOTHER
dc.subjectMULTIPLE LOANS
dc.subjectNATIONAL CREDIT
dc.subjectNATIONAL DEBT
dc.subjectNATIONAL TREASURY
dc.subjectORAL REHYDRATION THERAPY
dc.subjectOUTREACH
dc.subjectPERSONAL FINANCIAL MANAGEMENT
dc.subjectPOLICY DISCUSSIONS
dc.subjectPOLICY MAKERS
dc.subjectPOLICY RESEARCH
dc.subjectPOLICY RESEARCH WORKING PAPER
dc.subjectPREFERENCE FOR SONS
dc.subjectPRIVATIZATION
dc.subjectPROBABILITIES
dc.subjectPROBABILITY
dc.subjectPROGRESS
dc.subjectPUBLIC AWARENESS
dc.subjectPUBLIC CALL
dc.subjectPUBLIC HEALTH
dc.subjectPUBLIC SERVICE
dc.subjectPURCHASES
dc.subjectRADIO
dc.subjectRADIO PROGRAM
dc.subjectREAL ESTATE
dc.subjectREGRESSION ANALYSIS
dc.subjectREPAYMENT
dc.subjectREPAYMENT PERIOD
dc.subjectRESEARCH ASSISTANCE
dc.subjectRESERVE BANK
dc.subjectRETIREMENT
dc.subjectRULE OF LAW
dc.subjectSALARY
dc.subjectSALES
dc.subjectSAVINGS
dc.subjectSAVINGS PLAN
dc.subjectSAVINGS RATE
dc.subjectSAVINGS RATES
dc.subjectSECONDARY SCHOOL
dc.subjectSECONDARY SCHOOLING
dc.subjectSOCIAL CHANGE
dc.subjectSOCIAL MARKETING
dc.subjectSOCIAL NORMS
dc.subjectSOUND FINANCIAL MANAGEMENT
dc.subjectSOURCE OF INFORMATION
dc.subjectSTATUS OF WOMEN
dc.subjectTEEN
dc.subjectTEEN PREGNANCY
dc.subjectTEENAGE PREGNANCIES
dc.subjectTELEVISION
dc.subjectTELEVISION NETWORK
dc.subjectTELEVISION SOAP OPERAS
dc.subjectTERMINATION
dc.subjectTOLERANCE
dc.subjectTRUST FUND
dc.subjectTV
dc.subjectUNEXPECTED EXPENSES
dc.subjectURBAN AREAS
dc.subjectVICIOUS CYCLE
dc.subjectVILLAGES
dc.subjectWOMAN
dc.subjectWORTH
dc.subjectYOUNG PEOPLE
dc.titleHarnessing Emotional Connections to Improve Financial Decisions: Evaluating the Impact of Financial Education in Mainstream Media

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