In case you haven’t noticed, behavior change is the key to driving big financial turnaround for SmartDollar users. The more they swap out bad habits for good ones, the faster they eliminate debt and build up their savings. And one of the most exciting ways we’ve seen to engage more people with our activities and content is through the SmartDollar points system.
Since we’re always looking for ways to help more people form smart habits and win with money, we’ve introduced a new points scale for participants in 2018. It’s simple and fun. And we think it more accurately reflects the amount of effort and engagement by SmartDollar participants.
Understanding SmartDollar Points
The previous SmartDollar points scale awarded the same point value for all activities, regardless of whether they took only a minute or required 20 minutes of viewing time. But now activities are weighted according to their importance and how much time users will put in to complete them. Two key changes are the value of budgeting and videos. By offering a greater number of points for both of those activities, the new scale encourages participation in two areas we’ve discovered to be keys to lasting behavior change leading to successfully managing money.
Take the core video lessons for example. We now award 250 points for viewing each one. Users might start out clicking a video to get the points, but along the way they’ll quickly become familiar with key concepts like saving, budgeting and debt. Little do they know just how engaging the content in those videos can be! From there it’s just a matter of time before the wisdom from our money experts starts leading to real-world shifts in attitude and behavior around money for users.
The new scale will also increase the sense of traction and progress users are making as they work through SmartDollar. For many, the prospect of racking up points is something fun in itself. There’s something deeply encouraging about being able to visualize how much you’re learning. The points users can rack up fosters that feeling by putting a number on how much knowledge growth they’ve gained and the total effort they’ve applied.
And some employers have found they can drive even greater engagement by tying in other incentives with points. Either way, the broader goal is to get the users actively engaged with the tools, lessons and activities so that they’re understanding money issues and applying what they’ve learned to their own finances.
For users who get an urge to score as many points as possible, the fun can only grow. Engaged participants should be able to earn 1,000 SmartDollar points in the first 90 days and 3,500 points over the course of one year!
As fun as it is for your users to pile up the points and knowledge, there’s something even more exciting for employers—the chance to witness their workers get active in applying what they’re learning as they engage with SmartDollar. There will certainly be real-life turnaround in their personal finances, and that will have a big, beautiful impact on a company’s morale and productivity. From eliminating debt, to building an emergency fund or preparing for retirement, the quest for points can go a long way toward creating real and long-lasting behavior change.
Because employees start with a clean scoreboard every year, the new points system integrates easily with any company’s existing wellness points system. And that makes it easy to create challenges and points contests throughout the year!
Want to learn more about bringing SmartDollar and real financial change to your team? Contact us now for a demo.