When numbers are based on real life experiences, people understand.

Most people are lousy with numbers. Peculiarly large ones. Numbers similar millions, billions or trillions are just hazy notions of Actually big numbers for about people. Add together a dollar sign in front and you may actually come across their eyes glaze over.

Unless you put those numbers in terms they understand.

For instance, everybody knows that a minute is 60 seconds, and they accept a good sense of how long a 2nd lasts. What they don't understand is if you started a timer,one million seconds would take over a week and a half to expire. Surprised? And so consider this: one billion seconds would take most 32 years, and one trillion seconds would take 31,688 years (and yous would have had to get-go that timer back in 29,673 B.C.)

While some numbers are likewise big to embrace, others don't seem large plenty for people to care.

For example:

  • If the average machine loan refinance meant a savings of $twenty/calendar month, most people wouldn't bother. Point out that saving $xx every calendar month ways saving almost $k over the adjacent 4 years, and all suddenly yous have their attention.
  • A small percentage change on a mortgage doesn't sound very heady. However, a $50 lower monthly payment means an extra $3000 every v years of the loan. At present that's a big number that might make your members smile.
  • For a member that never has plenty coin, one less fancy coffee a day adds upwards to virtually $grand in one year.

When numbers are based on existent life experiences, people understand.

When a credit union puts the advantages of CU products in $$ instead of %'s, members respond.

It's simply a matter of communicating on the same level.

  • Author
  • Recent Posts

E-mail this article to a friend or coworker.