I'm a money psychology researcher working with Cornell professors and Noom to come up with studies on financial behavior change - ask me anything.
Hi Reddit! I'm Rachel Lauren, the COO and Co-Founder of Debbie, an app that rewards you for good financial behavior, like paying off debt, saving, and spending less. Unfortunately, there's not a ton of scientific data around money behavior change, but we're working with professors at Cornell to create it.
We’ve turned the financial rewards system upside down - instead of rewarding you to spend (like all the credit card companies out there do), we reward you to get your money in order. Our program also guides people through the psychology of money and habit building, and helps them access lower interest rates on their debt and discounts for services they’re already using. We’ve been live for over a year and our users pay off 3x more debt and save 10x more, and have used the app to create studies around financial behavior change. I’ve written all of the content and work with the Director of Product and Growth at Noom (yes, the weight loss behavior change company) to constantly improve it.
I was inspired to build this company because my parents got themselves into about $250k of additional debt when they took out a second mortgage to invest in my uncle’s alternative energy venture. My parents are not wealthy people, and this led to my eventual need to learn about money and psychology when I had to take over managing my uncle’s finances. My background - I spent several years working in equity research at Credit Suisse and then in venture capital at a corporate venture fund. I finished my Series 7, 63, 86, and 87 and am now pursuing a CFP.
We are now opening up our waitlist which is now at over 20k signups. Sign up here.
AMA about money psychology and building a venture-backed business at the age of 26. Starting on August 9nd 8pm ET/ 6pm CT/ 5pm PT.
Other things to note for transparency: We do not sell anyone's data, we get paid by financial partners looking for new customers (while we help people refinance their high interest debt), and we pay out the rewards from our revenue.
Proof: Here's my proof!