I've read & heard news stories on this. What I heard sounded like it would work for some folks. Just a type of incentive that would hit your wallet - you meet your goal and you get your money back with interest; miss your goal and you forfeit the money you initially put down. Not that much different from an office Biggest Loser pool.
I also heard this week on the news about some credit unions and online bank accounts that are set up similar to a lottery - you put in a small amount on a regular basis and you are eligible for a jackpot drawing. The difference is you ALWAYS have the money you put in.
It's an effort to encourage people to save. For example, my sis has always spent every penny she makes (and then some). She never has anything to fall back on when those inevitable emergencies happen. But she buys a lottery ticket just about every week. So would something like this encourage her to take that $2 and put it in savings? She'd still have a chance of winning a jackpot (smaller than the big lotteries, but still a decent return)...AND she'd have the $ she put in. Interesting concept.
Edited by: OBIESMOM2 at: 1/31/2013 (01:34)
The most handicapped person in the world is a negative thinker; a person who has the skills, abilities, talents and tools, yet chooses not to use them.
Forget your perfect offering
There is a crack in everything
That's how the light gets in.
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