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Happy Money Shares the Secret to Effective Financial Literacy


ORANGE COUNTY, Calif., March 31, 2021 /PRNewswire/ — Happy Money®, a leading fintech company building tools and services for happiness, is offering consumers tips to make the most of their money during National Financial Literacy Month and beyond. The increased emphasis on financial education this month is important, but research shows financial education alone is not effective in improving financial literacy or positively shifting financial behaviors.

“At Happy Money, we want to take the pressure off consumers by providing financial information in intuitive, transparent, and immediately usable ways,” said Dr. Elizabeth Dunn, Chief Science Officer for Happy Money. “As a professor, I know if education isn't applied to life events shortly after taking in the information, it's likely to be forgotten. This is why at Happy Money we focus on 'just-in-time' financial education paired with scientifically-backed behavioral tools to help people achieve greater financial wellness and happiness through the choices they make.”

And this month, Happy Money is sharing its top tips for taking your financial wellness to the next level.

  1. Track what you spend and how it makes you feel, so you can decide what's worth it to you and what's not. Pay attention to how purchases affect your mood and identify your “happy and sad spends.” Shift your spending toward what makes you truly happy – slaying debt, savoring a treat, helping a friend, or investing in an experience.
  2. Start with small, manageable changes and celebrate milestones along your journey! When considering how your money can help you meet your physical, social, and emotional needs, break goals into bite-sized pieces which are easier to form into habits. Start by saving $10 a week, giving $15 to an inspiring organization, or putting an extra $50 monthly toward credit card debt. The compounding interest of these choices adds up. For instance, Happy Money has found that people with $400 in emergency savings report 17.7% higher levels of life satisfaction than those who don't have that cushion.*
  3. Pay off debt to boost financial wellness and ease stress. Through its research, Happy Money has found that people with no credit card debt experience nearly 40% less financial stress than those with revolving debt.* That's why together with their mission-aligned credit union partners, Happy Money has helped members pay down over $2.7 billion in credit card debt faster and more affordably with its award-winning Payoff Loan™ since 2014. By living free from credit card debt, consumers can begin increasing savings and continuing on their financial wellness journeys. 

“At Happy Money, we encourage people to think about what a rich life really means to them. Rich is not about what's in your bank account, but what makes you happy and fulfilled in meaningful, sustainable ways,” said Scott Sounders, Happy Money Founder & CEO. “Fueled by our human-centered, science-driven approach, the Happy Money Movement is on a mission to help consumers secure greater happiness by breaking the cycle of debt and making more mindful choices with their money.”

To help move consumers along in their journeys from borrower to saver, Happy Money is expanding its products and services in the habit formation space. One of the first initiatives is a wellness and money mindfulness program called Peace. Designed by leading researchers in the areas of clinical psychology, positive psychology, and cognitive neuroscience, the course is completely free and available to anyone. Each exercise builds skills aimed at helping address stress levels, while promoting more positive associations – all in digestible bites for busy people.

*Based on a survey of over 45,000 respondents between May 2020 and Feb 2021.

About Happy Money

Happy Money® is building a happier and more equitable financial ecosystem that seamlessly blends psychology, technology, and a focus on happiness to help consumers go from borrower to saver. The company provides a path toward improving financial wellness and securing greater happiness – beginning with paying off credit card debt through its award-winning Payoff Loan™, delivered through its purpose-driven marketplace between mission-aligned credit union partners and consumers. 

Backed by leading investors including Anthemis Group, Tencent Holdings, and CMFG Ventures, Happy Money has helped nearly 150,000 members pay off more than $2.7 billion in credit card debt since inception. Founded in 2009, Happy Money has a diverse employee base of over 350 people across the United States. For more information, please visit

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