I first learned of what you’re talking about when I learned of the Christmas club.

The mentality of this … how do you change these bad habits, the correct incentives, yes but it’s so easy to deceive.

Ai quick summary:

The Christmas Club was first introduced by Pennsylvania banker Merkel Landis in 1909. It was marketed as a way for customers to save gradually for holiday spending, but in reality, it served the banks far more than the savers.

Customers locked in small deposits all year, which the bank could lend out or invest, earning returns. If a customer needed their money early, they’d face penalties—losing interest or paying fees. So banks got cheap, predictable capital, while customers got restricted access to their own funds and little to no real yield.

It wasn’t financial empowerment—it was behavior control, wrapped in tinsel.