Signing up for an automatic retirement savings plan at work is an example of a commitment device that would help you control your time inconsistency.

Question

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Signing up for an automatic retirement savings plan at work is a commitment device because it helps you control your time inconsistency by making regular contributions to your retirement savings without having to rely on your willpower to save money. This commitment device ensures that you are saving consistently and helps you avoid the temptation to spend your money on other things.

Signing Up for an Automatic Retirement Savings Plan at Work