We all have some things that we just can’t be bothered to do even if they have been weighing on our minds for ages...we have inertia when it comes to these tasks.
When we talk about inertia we are referring to why we don’t sort certain things out to make our lives better in some way. We all have inertia towards something, whether it’s going to the gym, eating more healthily or changing that light bulb in the hall. Perhaps you haven’t got round to changing your mobile phone provider even though you know you could get a better deal if you did or maybe you still haven’t cancelled that direct debit or leave your VAT return until the night before the deadline?
There could be many reasons for our inertia to different things – especially in this modern world of mass information and ever increasing options. The choice of offers and deals from different companies can feel overwhelming putting us off deciding what to do. Or a busy week at work could mean we’re just too tired to think about tackling that job we meant to do last Sunday! Even though we know getting that little job or phone call out of the way will benefit us, we’d rather relax in front of our favourite TV show or go to the pub with friends. Even though we now have more ways of setting reminders for ourselves on our phones and computers, inertia feels like it’s a part of modern day life.
Introducing the Institute of Inertia
The Institute of Inertia is going to find out more about this phenomenon and help us understand our behaviours in a bit more detail, so that we can try and make changes to save ourselves time and money. The aim is to help us get rid of those nagging feelings that get to us from time to time when we know we should spend 10 minutes getting some jobs done rather than watching just one more episode from our latest box set!
The Institute of Inertia is a network of experts and academics working together to understand why we often don’t take quick and easy steps to make our finances healthier. The long-term aim is to help us all save wasted time and money.
Led by The University of Sheffield’s Dr Thomas Webb , a specialist in consumer behaviour, the Institute of Inertia will look to understand how we manage our finances by undertaking research with the general public to explore the reasons why we don’t always take action to save ourselves time and money.
Dr Webb will lead the research over the next twelve months and will share his findings with a panel of consumer champions, charities and financial behavioural experts who will develop potential solutions for tackling inertia and find ways to save precious pennies and time.
To find out more from Dr Webb and the Institute of Inertia, please click here