Showing posts with label lottery. Show all posts
Showing posts with label lottery. Show all posts

Saturday, July 18, 2009

Would you save more if saving was more like gambling

Jason Zweig writes in the Journal about a type Certificate of Deposit that is also a raffle for cash prizes. It seems that incentive is working. The eight credit unions in Michigan participating in this type of CD have attracted $3.1 million in new deposits because of this product.

Would you save an additional $25 for the possibility of winning $400? or $100,000?

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