Podcasts Business Investing The Meb Faber Show Adam Moelis, Yotta Savings - Almost Half Of Americans Cant Come Up With $400 In An Emergency And 78% Of People Live Paycheck To Paycheck | #273

Adam Moelis, Yotta Savings - Almost Half Of Americans Cant Come Up With $400 In An Emergency And 78% Of People Live Paycheck To Paycheck | #273

Published: Dec. 21, 2020, 6 p.m.

b'In episode 273, we welcome our guest, Adam Moelis, co-founder and CEO of Yotta Savings, which allows users to save money, earn over 2x the national average in interest and get weekly chances to win additional prizes up to $10 million through weekly random number drawings\\nIn today\\u2019s episode, we\\u2019re talking about how to use behavioral psychology to encourage American\\u2019s to save. We start with a somber look at the average American\\u2019s financial picture. Then Adam explains the history of lottery or prize-linked savings accounts and why the idea was mostly banned in the U.S. until 2015. He discusses the experience of going through Y Combinator\\u2019s first remote batch and then explains the lottery program, which offers users a chance to win between ten cents and ten million dollars.\\nAs we wind down, we hear about the company\\u2019s\\u2019 experimentation with customer acquisition with influencers and why they\\u2019ve focused on the social aspect of the app.\\nPlease enjoy this episode with Yotta Savings\\u2019, Adam Moelis.\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'