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Can't Even Give Money Away These Days?!?! Take It, It Is FREE!

Here is a social experiment.  These guys in the financing business set out to try to give away money to ordinary citizens walking down a busy sidewalk in several English cities.  They tried so hard to give the money away they even wore sandwich boards saying it loud and clear!  Of the hundreds of people who walked by the guy giving away free money, only 28 took advantage of it.  AMAZING!

 

Are you too rich, proud, stupid, busy, embarassed, or skeptical to take free money?

 

Read the artical, at the end of it there is a test to see if you learned anything from reading it.  Lets see how you do.

 

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free moneyBrits Fail To Cash In On Free £5 Notes

• Just 28 people took free fivers in two busy crowded streets
• And further research shows that half of all Brits claim they would also turn down free cash

The full extent of Britain’s financial inertia was laid bare today when passers-by in London and Manchester were offered a free £5 note, no strings attached.

Representatives from price comparison website, www.moneysupermarket.com wandered the streets this morning wearing sandwich boards offering a free £5 note to anyone who asked. Despite encountering over 1800 people, only 28 passers by bothered to take advantage of the offer.

Even when those few plucky souls claimed their free booty it didn’t spark a stampede. The exercise was designed to illustrate that, credit crunch or no credit crunch, Brits are unwilling to take even the simplest steps to improve their financial situation.

Additional research found that more than half of all Brits (53 per cent) admit they too would not be bothered to claim their £5 if they were in the same situation. This finding suggests that people actually overestimate their own likelihood of acting in such a situation, given the poor take up of the offer on the streets of London and Manchester.

“This exercise reveals a fundamental inertia which is stopping people from making sensible financial decisions,” said Tim Moss, head of loans and debt at www.moneysupermarket.com.  “This was a completely genuine, no strings attached offer. People simply had to approach the sandwich board wearer and ask for a fiver. If more than 98 per cent of the people who passed by couldn’t be bothered to do that, it raises some interesting questions about what needs to be done to persuade people to make an effort to improve their financial position.” 

The experiment also found a stark difference in the attitudes of men and women.  On the streets of London and Manchester, all but 7 of the people who claimed the free cash were men and the research backed this up further. In a poll of 2000 people almost two thirds of women (64 per cent) said they would not claim the free fiver, compared to 41 per cent of money-shy men.

Additionally, the experiment found that Londoners were more reserved than their Manchester counterparts. Whilst just 1.2 per cent of people took advantage of the offer in London, this figure increased to 3.1 per cent on the streets of Manchester.

The research also found that the older the person, the less likely they would be to act on the free offer. Whilst some two thirds of under-twenties say they would claim the free cash, this steadily drops the older we get, declining to only a third (35 per cent) of over 70s who claim they would ask for a free fiver.

Why do Brits believe they would fail to take up the offer?
• Six in ten people say they their cynicism would prevent them from asking for free cash as they would suspect a catch or trick.
• Twenty per cent of people would simply not believe the offer was real – a trend which increased with age. Almost a third of over 60s claimed they wouldn’t believe the sandwich board wearer.
• Just over one in ten people said they would feel too embarrassed and three per cent of people said that £5 wasn’t worth the effort.

<end article>

So here is your test/reward.  Click on the cow below and you will go to the 'artscow' website where you will be given credits to print 1200 free photos.  That is about $25 worth, completely free.  What is your excuse?

 

 

 

Search & Win    <------ Click the cow for your FREE photos

 

 

 

Thanks for reading,

 

Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or wish to recommend them to a friend.

WANTED: Single Women: - Single women are a hot mortgage market
Common Financial Problems - Avoid these financial mistakes
Get Your Credit Score UP - Invaluable insight into your credit score
Mortgage Guidelines Get Tighter - Harder and harder to borrow money
Is Your Mortgage Company Out of Business in 2009? - What to do when your bank goes broke
What is wrong with MLS - Is your info being abused?
Survivor - Real Estate Edition - Let's vote a few more off the island

 

 



Robert May is a Realtor, as well as the broker and owner of Rainbow Realty of Lethbridge Alberta. He is also a licensed mortgage broker   and mortgage financing expert with Canada First Mortgage of Calgary Alberta. He has been in the lethbridge real estate industry since 1993 and offers full MLS services to the Lethbridge real estate market and surrounding area.. He can be found online at www.LethbridgeLoans.com




 

 

 

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Robert W May is a Real Estate Broker in Lethbridge Alberta, having now been in the industry for over 23 years. . He was also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta for the past 10 years.  He is an industry leader always willing to help train and educate others in how to improve their business models for financial and personal benefit.




 

 

Comment balloon 10 commentsRobert May • March 20 2009 12:56AM

Comments

People are funny which is why I love psychology and sociology. I probably would have at least talked to the guy to see if there was a catch. I did click on the cow and need to calculate if the shipping costs are worth the free photos or if Costco is cheaper. Thanks for the link!

Posted by Libby Cousins, Contract Mortgage Processor, licensed in WA (Extraordinary Processing) about 9 years ago

Good job Libby.  Thanks for the comment and thanks for taking the time to read through the whole article.

Posted by Robert May, Real estate consulting (Robert W May - Lethbridge Real Estate) about 9 years ago

Very interesting.  I guess people would assume there is a catch and subsequently don't want to take the chance.

Cameron Novak, Corona Real Estate Agent
Cameron Novak

Corona & Riverside Short Sale Agent
The Homefinding Center
TM
Corona, California
951-212-7479

Posted by Cameron Novak, Featured Corona Real Estate Agent Team (The Homefinding Center) about 9 years ago

I suppose if one wants hard copy photos and is willing to read all the fine print about obligations, it could be worth while.  As for me, I have no use anymore for prints.

Posted by Richard T. Dolbeare, R(B), ABR, CRS...Hawaii Multi-Island Specialist (KW Island Living) about 9 years ago

I actually didnt buy the photos there myself, but I did buy some of the other stuff instead.  They print on all sorts of weird things.  This month they had neckties with your own pic on them for $5 and free shipping. 

Posted by Robert May, Real estate consulting (Robert W May - Lethbridge Real Estate) about 9 years ago

Robert, I guess people just figure that there has to be a catch.  So it's not worth their time for five pounds.

Posted by Kevin Cavanaugh, Lic. Associate Broker, ABR, GREEN (Keller Williams Hudson Valley Realty) about 9 years ago

That's interested I don't know if i would also walk by just because I won't notice him.  Isn't that sad

Posted by Lynn Meldrum (Lynn Meldrum with Verico Canada First Mortgage) about 9 years ago

I am not sure if I would ask him.  I would probably be looking around for the cameras filming the guy as it would certainly make you think of the hidden camera tv shows or 'just for laughs'

Posted by Robert May, Real estate consulting (Robert W May - Lethbridge Real Estate) about 9 years ago

Robert,

Love your graphics & sense of humor.  Just what I needed today.  See you in the rain tomorrow.

Posted by Mary Yonkers, Erie/PA Real Estate Instructor (Alan Kells School of Real Estate/Howard Hanna Real Estate) about 9 years ago

Thanks fro dropping by Mary and leaving a comment.  I will do my best to visit your blog soon.

Posted by Robert May, Real estate consulting (Robert W May - Lethbridge Real Estate) about 9 years ago

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