Think Forward Initiative - Financial Literacy | Deloitte


Setting out lines for the future

Think Forward Initiative | 5 projects and many ideas

At the first Think Forward Summit last year, participants defined three areas where people experience challenges in their financial decision-making. These challenges gave birth to five projects, which participants were busy working on throughout the past year. With this year’s Think Forward Summit approaching quickly, here’s an overview of what each project researched and a description of the practical solution being developed based on that research. Some videos will give you an impression of what went on behind the scenes.

Join the conversation on Twitter: #ThinkForward

The projects will be presented in detail at the summit on 15 March where we will launch our ThinkForward report with research results and solutions

Savings, investment and retirement

1. Future self

Research: develop a better understanding of how people plan, envision and decide on their own future self. Make the future salient to people’s present situation.

Practical solution: develop an app that functions as a personal coach, visualising possible future narratives, to help people to plan their own life, stay on track and get financial peace of mind by showing the path towards long-term financial goals.

2. Social-norm nudge

Research: can the savings behaviour of consumers be influenced by applying a social-norm nudge to help them reach their optimal levels of saving

Practical solution: a peer comparative savings app helping people to be in control of their savings by reducing the pitfall of having short-term pleasures win over long-term needs.

Think Forward Initiative: Savings, investments and retirements

Budgeting, spending and borrowing

3. Social media analysis

Research: examine the impact of emotions and social influence on borrowing behaviour through social media conversations and machine-learning predictive analytics.

Practical solution: a tool built into your browser or shopping app that helps determine whether you can afford something before you purchase it. It simply says ‘yes’ or ‘no’, with an explanation based on social media analysis. Research has proven that this is a very reliable predictor of financial delinquency.

4. Intra-household dynamics

Research: a modern typology of households, including their composition, lifecycle changes and effect on decision-making.

Practical solution: an app for managing household finance that takes the hassle away from couples and helps them focus on what’s most important: the discussion itself. It will help families understand consequences and reach their financial goals.

Think Forward Initiative: Spending, Budgeting and Borrowing

Financial literacy

5. Financial capability

Research: how to support people by providing appropriate financial services as well as financial education to improve their financial capability; getting a better understanding of financial capability, and of the complex relationship between various personal characteristics, financial capability, and actual financial behaviour.

Practical solution: an app that facilitates better informed financial decision-making, helping people keep their heads above water by providing personalised tips and tricks grounded in academic research and based on their location and time. It helps break down big decisions into manageable chunks.


We’re pleased to invite you to the Think Forward Summit on Wednesday 15 March 2017 in Munich. Please see the full program and list of speakers here.

Think Forward Initiative: Financial Literacy

Want to know more about the Think Forward Initiative?

Would you like to stay up-to-date and informed on the Think Forward Initiative? Please join the network via the Think Forward website or contact Peter van Loon at Join the discussion @ThinkForward.

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