Earn Up

PRODUCT

Earn Up

EarnUp is a consumer-first fintech platform that intelligently automates loan payments for the 200 million Americans with debt. We help you put a few dollars aside for your loans when you can afford it - then we make your loan payments for you, allocating funds in the way that gets you out of debt faster. We are dedicated to giving control back to everyone who is frustrated managing their finances.

How Earn Up changes Financial Behaviors & Debt Reduction behaviors

Automation

TACTICS

Automation

Automation refers to having another person, group, or technology system perform part or all of the intended behavior. A prominent example is Thaler & Bernartzi's Save More Tomorrow intervention, which invested a portion of employees' earnings into retirement funds automatically and even increased the contribution level to scale with pay raises. Other examples include automatically scheduling medical appointments so the patient needn't do it themselves and mailing healthy recipe ingredients to the person's home to reduce the burden of shopping.‍

Smart Defaults

TACTICS

Smart Defaults

Defaults refer to what happens if a person makes no choice or goes with a pre-selected choice. The influence of defaults is a foundational component of behavioral economics. Perhaps the most famous example of defaults is the difference between opt-in and opt-out organ donation programs. While not universal, several studies have found that the rate of organ donation consent in a population seems to be influenced by the default (i.e., what happens if a person does not check a box or change the pre-selected preference on a form). Smart defaults do not only refer to one-off events, however. In the well-known Save More Tomorrow program, participants were not only included in a savings program by default, but the amount they saved was also changed over time automatically (again by default). Similarly, other behavior change programs have default settings that include at-home medication or food delivery, rules-based reminders on different platforms, etc.

Education or Information

TACTICS

Education or Information

Education refers to empowering a person with more knowledge or training than they had previously. While providing information alone is often a suboptimal way to drive meaningful behavior change or long-term interventions, the right message at the right time can be a powerful part of a behavior change strategy.‍

Reminders, Cues, or Prompts

TACTICS

Reminders, Cues, or Prompts

Reminders, cues, and prompts are simply methods to cause someone to perform a behavior by calling their attention to it with a timely message. People have limited attention and memory, so these types of influences can be very effective when done skillfully. The cue need not consist of written or spoken language; for example, it could be a certain melody, symbol, or pattern of lights on a connected home device. It might also be a bracelet or pattern of vibrations from a wearable device. Provided the cue or prompt is associated with the behavior, almost any sensory stimuli that is reliably perceived and interpreted may be used. That said, verbal reminders can be effective since they may be personalized with additional semantic information related to the person's context or leverage other effects (e.g. identity priming or framing effects).

Environmental Restructuring

TACTICS

Environmental Restructuring

Environmental restructuring refers to modifying the physical environment around someone in order to influence their behavior.On the less intensive end, this could be as simple as having someone leave a pill bottle in a more obvious location or switch to using a pillbox with compartments for each day. More complex examples include carpooling potential voters to election sites to improve turnout, redesigning a workplace cafeteria layout to bias toward healthier foods, or setting up booths for influenze vaccination in offices or shopping malls.

Earn Up changes these Financial Behaviors & Debt Reduction behaviors

Financial BehaviorsDebt Reduction