The strange connection between horoscopes and financial advice
- A person’s horoscope may not determine their future wealth, but a propensity to read their horoscopes might.
- A survey by N26 found that quite a few US adults count on their horoscopes for financial guidance here and there.
With the world of finance meshing into the world of personalization, the road to financial decision making is starting to be paved with surprisingly colorful bricks.
As it turns out, a significant portion of US adults say horoscopes come into play with their financial decision making.
A survey conducted by challenger bank N26 in collaboration with astrology duo and self-proclaimed ‘Astrotwins’ Ophira and Tali Edut found that consumers’ attitudes and actions surrounding their finances can differ significantly depending on whether or not they’re horoscope readers.
A third of regular horoscope readers are likely to feel more positive about their finances, compared to only a fifth of people who don’t read their horoscopes regularly, for example.
Horoscope checkers also seem more likely to take investing into their own hands. 40% of them use investment apps -- a higher percentage than non-horoscope readers.
It also may be the case that horoscope readers are more sentimental investors. According to the survey, they're seven times more likely to have purchased NFTs and six times more likely to invest in sports memorabilia.
Horoscopes’ influence on consumers doesn’t seem to be going away anytime soon. The youngest generation of adults seem to be big fans, in fact. Almost 40% say astrology can help with financial decisions.
It may not just be the conspicuous factors that can determine consumers’ financial behavior. From horoscope beliefs to a favorite TikTok influencer, all sorts of things can play a role in the financial decisions a person makes throughout her life.
“If financial service providers take one thing away from these results, it should be that consumers today cannot be treated the same as past generations,” said Stephanie Balint, interim general manager of N26 US. “Financial service providers who remain customer-centric at their core will continue to find success especially with younger generations.