The field of behavioural economics suggests that utilizing what is known about how 'real people' make financial decisions can augment financial education initiatives and contribute to increased financial well being amongst a population. The effect of the behavioural norms and implied assumptions associated with different group identity categories with which a person associates on a person's financial behaviour and performance is a key emerging area of interest.
This paper describes how an identity-based strategy can identify and make more salient the specific components of a group's identity that are most likely to be supportive of positive financial behaviours and outcomes to improve the overall effect of a person's identity on their level of financial well being. Qualitative findings of this research, which utilizes the well-recognized folk 'Kiwi' identity as an example, suggest that making salient the components of the 'Kiwi' identity which are most aligned with positive financial behaviours and performance (the most 'Sorted-supportive' components) may result in increased 'normalization' of desirable financial behaviours and may empower New Zealanders to achieve financial well being by increasing their sense that 'being Sorted' is simply part of 'being Kiwi.'
