Member Exclusive

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.

Email a Friend

The strange connection between horoscopes and financial advice

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.

0 comments on “The strange connection between horoscopes and financial advice”

10-Q, Member Exclusive

Robinhood unveils a 5% APY for Gold members, but how will users respond?

  • Robinhood's recent move to challenge traditional banks includes its increased savings offering, a 5.0% APY for Robinhood Gold Members. 
  • The stock trading platform appears to be in a precarious balancing act, grappling with the escalation of deposit strategies while facing a decline in both transactions and monthly active users.
Sara Khairi | November 20, 2023
10-Q, Member Exclusive

Q1’24 affirms Affirm’s upswing in BNPL

  • Affirm's quarterly results indicate that back-to-back enterprise collaborations in conjunction with collective strategies are eventually winning out keeping the firm on course.
  • Going forward the BNPL provider intends to focus on continuing to invest in risk management, technology, and product development.
Sara Khairi | November 13, 2023
10-Q, Member Exclusive

Q3: The PayPal story isn’t over

  • PayPal saw improved earnings in the third quarter compared to the previous one.
  • Chriss answered some of the burning questions and gave a bit more color on what firm assets could require more work to turn around than he thought.
Sara Khairi | November 06, 2023
10-Q, Member Exclusive

Ted Pick is Morgan Stanley’s new leader. Where does it go from here? 

  • The question, 'Who will succeed James Gorman at Morgan Stanley?', that echoed in Wall Street's nooks and crannies has finally been answered.
  • The present and incoming CEOs might have different management styles. What they both share, however, is a shrinking economy and growing macroeconomic pressures at the time of assuming control.
Sara Khairi | October 30, 2023
10-Q, Member Exclusive

It’s complicated: Big banks have a love-hate relationship with high interest rates

  •  Although it's a new season, things seem pretty much the same as the last quarter for big banks – except that the figures and their impacts have heightened.
  • The common underlying theme in Q3 was increased write-offs – but it's still raining profits for (most of the) big banks.
Sara Khairi | October 23, 2023
More Articles