Thursday, February 12, 2009

Payday Loans and the Motivation to Quit Smoking

Payday loans - money that motivates

The idea that short-term emergency cash can be obtained via payday loans is a real motivator for many consumers to apply. Money, it’s quite obvious, is a great motivator. According to Serena Gordon of U.S. News and World Report, some employers are using money to motivate their charges to be more healthy. Specifically, they want them to stop smoking.

A February 12, 2009 New England Journal of Medicine study shows that General Electric were offered up to $750 to kick their habit. After one year, 14.7 percent of the group that received extra cash were still free of the cancer sticks’ lure. Only five percent of employees who weren’t paid during the study managed to stay clean. Even though the former figure is low, it’s still much higher than the success rate for most stop smoking methods.

Cashing in on behavior modification

Dr. Kevin Volpp of the University of Pennsylvania School of Medicine and Wharton School said that “Incentives do work in changing health behaviors, and they can be successful in people who have not succeeded using other approaches in the past.” Volpp believes the financial incentives provided both positive feedback and immediate gratification, which likely contributed to the method’s effectiveness. ... click here to read the rest of the article titled "Payday Loans and the Motivation to Quit Smoking"

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