An investigation of the influence of a gamified intervention on psychological determinants of savings intention

Simple item page
dc.contributor.advisorAdams, Samanthaen_ZA
dc.contributor.authorJonker, Nicholaen_ZA
dc.contributor.otherStellenbosch University. Faculty of Economic and Management Sciences. Dept. of Industrial Psychology.en_ZA
dc.date.accessioned2023-03-06T15:54:45Z
dc.date.accessioned2023-05-18T07:11:51Z
dc.date.available2023-03-06T15:54:45Z
dc.date.available2023-05-18T07:11:51Z
dc.date.issued2023-03
dc.descriptionThesis (MCom)--Stellenbosch University, 2023.en_ZA
dc.description.abstractENGLISH SUMMARY: South Africa’s history of restricted financial inclusion has contributed to a poor culture of saving. South Africans’ savings are effectively cancelled out by the amount of credit taken up, meaning that many struggle to pay off debt rather than adding to their wealth through saving and investment. This poor culture of saving and indebtedness not only impacts the financial wellbeing of individuals and households, but it also impacts economic growth. Financial education is one approach to addressing this problem. Accordingly, Financial Service providers are required by the financial sector codes to spend a minimum of 0.4% net profit after tax on financial education in order to improve South African’s financial literacy, which has been widely acknowledged to be a barrier to financial inclusion. To truly address the problem and influence behaviour, this investment must be used wisely on interventions that are theoretically and empirically related to the underlying factors that drive savings behaviour. Gamification has become a popular technique used to motivate people to engage in targeted behaviours and is also an attractive option for organisations to invest in as they can scale their efforts more cost-effectively. Unfortunately, although some educational interventions have resulted in short term improvements in financial knowledge, there is less evidence with respect to the effect on individual’s financial attitudes or behaviours and this could be attributed to a lack of understanding of the psychological determinants of positive savings behaviour. The aim of this study, therefore, was to explore the variables proposed to contribute to savings behaviour and to empirically investigate the extent to which engagement with a gamified intervention would impact them. An experimental pre-test post-test control group design was used (N = 34). The gamified intervention evaluated was designed in a partnership between a South African bank and a game designing firm and its intent is to influence consumers’ beliefs and attitudes about saving in order to change their savings behaviour. The findings of this study did not provide any significant support for the hypotheses, although there was a trend towards a possible relationship between the effectiveness of the gamified intervention and the outcome of improved basic financial knowledge and savings attitudes. The results of this study deliver important insights for further research in the use of gamification to promote savings behaviour. A conceptual model of savings intention as well as some preliminary evidence of the positive effects that gamification can have on the outcomes of financial education interventions is provided.en_ZA
dc.description.abstractAFRIKAANSE OPSOMMING: Suid-Afrika se geskiedenis van beperkte finansiele inklusiwiteit dra by tot ‘n swak kultuur van spaar. Suid-Afrikaners se spaargeld word effektief tot niet gemaak deur die hoeveelheid krediet wat opgeneem word, wat beteken dat baie sukkel om skuld te delg eerder as om te spaar en te bou aan hulle beleggings en rykdom. Die swak kultuur van spaar asook in skuld lewe is nie net nadelig vir individue en huishoudings nie, maar ook vir die groei van die ekonomie. Finansiele opvoeding is een manier om die probleem aan te spreek. Dus is finansiele dienste verskaffers verplig deur die finansiele sektor kodes om ‘n minimum van 0.4% netto wins na belasting toe te voeg aan finansiele opvoeding. Dit is met die doel om finansiele geletterdheid te verbeter omdat dit wyd beskou word om ‘n hindernis tot finansiele inklusiwiteit te wees. Om daadwerklik die probleem aan te spreek en gedrag te beinvloed, moet hierdie belegging wys gebruik word op ingrypings wat teoreties en empiries verband hou met die onderliggende veranderlikes wat die gedrag van spaar motiveer. “Gamification” het ‘n populere tegniek geraak om mense te motiveer om geteikende gedrag te toon en is ook ‘n aantreklike opsie vir besighede om in te bele omdat die skaalvoordele hulle pogings meer koste effektief maak. Alhoewel daar opvoedkundige ingrypings is wat bygedra het tot korttermyn verbeterings in finansiele kennis, is daar minder bewyse in verband met die invloed op individue se finansiele houdings of gedrag en dit kan toegeskryf word aan ‘n gebrek in begrip van die sielkundige determinante van positiewe spaar gedrag. Die doel van die studie was dus om die veranderlikes wat bydra tot spaar gedrag te ondersoek en om empiries te ondersoek tot watter mate die betrokkenheid van deelnemers met ‘n “gamified” ingryping hulle beinvloed. ‘n Eksperimentele voortoets-natoets kontrolegroepontwerp is gebruik (N = 34). Die “gamified” ingryping wat geevalueer word is ontwerp in ‘n vennootskap tussen ‘n Suid-Afrikaanse bank en ‘n “game” ontwerp firma met die doel om verbruikers se oortuigings en houdings oor spaar te beinvloed en hulle spaar gedrag te verander. Die bevindinge van die studie het nie enige beduidende ondersteuning vir die hipoteses bygedra nie, maar daar was wel ‘n neiging tot ‘n moontlike verhouding tussen die effektiwiteit van die “gamified” ingryping en die uitkoms van verbeterde basiese finansiele kennis en houdings oor spaar. Die resultate van die studie voorsien belangrike insig vir toekomstige navorsing in die gebruik van “gamification” om spaar gedrag te motiveer. ‘n Konseptuele model van spaar voornemens asook ‘n paar voorlopige bewyse van die positiewe effekte wat “gamification” op die uitkoms van finansiele opvoedkundige ingrypings kan he word verskaf.af_ZA
dc.description.versionMasters
dc.format.extentxi, 128 pages : illustrations, includes annexures
dc.identifier.urihttp://hdl.handle.net/10019.1/127247
dc.language.isoen_ZAen_ZA
dc.publisherStellenbosch : Stellenbosch University
dc.rights.holderStellenbosch University
dc.subject.lcshEducation -- Finance -- South Africaen_ZA
dc.subject.lcshSaving and investment -- Economic aspects -- South Africaen_ZA
dc.subject.lcshSaving and investment -- Psychological aspects -- South Africaen_ZA
dc.subject.nameUCTD
dc.titleAn investigation of the influence of a gamified intervention on psychological determinants of savings intentionen_ZA
dc.typeThesisen_ZA
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
jonker_investigation_2023.pdf
Size:
1.63 MB
Format:
Adobe Portable Document Format
Description:
Download
Collections
Masters Degrees (Industrial Psychology)