Socioeconomic Development
Everyday our people face momentous financial responsibilities with little to no room for error. Yet, most adults, particularly belonging to the low and middle income group in Bangladesh, are inadequately equipped to make sound and rational financial decisions. Traditional forms of financial literacy education have had modest results in preparing low and middle income individuals for financial independence and the effects of such literacy programme and the incentive of the target populace to integrate into it seem to wane out rather early.
The cause of such early disappearance of the effects of a financial literacy programme can be largely credited to the ignorance shown towards the behavioral barriers and biases that prevent adults and adolescents from acting upon financial knowledge.
We at Flying Colours exploit the emerging field of game-based learning to address the gap between intentions and impacts by offering replayable, experience-based learning to train our participants to develop positive financial behaviors.
We use our behavioral insights to provide adults and adolescents with an understanding of the cognitive and behavioral barriers that can make spending, budgeting, and managing debt difficult. We create situational instruments tailored to meet the particular needs of the target population and the demographics.
From designing the choice architecture to creating nudges and sludges we operate with the objective of empowering our adults and adolescents to overcome their tumultuous financial condition and build a better future through savings and capital accumulation.