Summary
Financially vulnerable Americans rarely get to tell their own stories. Often when decision makers, even the best-intentioned, talk about Americans who are financially stressed, stereotypes riddled with paternalistic judgements frame the conversation. Some researchers are even reluctant to visit people in what they deem “rough neighborhoods”. In the absence of real people telling their own stories, biased judgements take root. Yasmine will speak about best practices for conducting fruitful unbiased studies with people who are financially vulnerable. She’ll also share key insights gained over 4 years that debunk stereotypes about financially vulnerable Americans and the myth of “pulling yourself up by your bootstraps.”
Key Insights
-
•
Financial struggles are primarily due to inadequate income, not poor money management skills.
-
•
Many financially stressed individuals are diligent about tracking their expenses; they cannot afford to make mistakes.
-
•
Stagnant wages and rising costs of living worsen financial insecurity for low-income households.
-
•
Personal responsibility is often overstated while institutional responsibility is downplayed in discussions about poverty.
-
•
Qualitative research is necessary for understanding the real-life complexities of people’s financial situations.
-
•
Financial narratives should center on the voices of the vulnerably employed, rather than external biases.
-
•
Creating space for open conversations about finances is key to gathering honest insights.
-
•
It’s important to recognize that many financially stable individuals may also be living paycheck to paycheck due to hidden debts.
-
•
Building trust is vital for meaningful interactions with research participants.
-
•
Flexibility in logistics and scheduling is crucial when working with populations in gig or hourly employment.
Notable Quotes
"Money management is not the primary problem for struggling individuals; the issue is often that they simply lack money."
"Wage increases tend to go to top earners, leaving low-income households behind."
"People battling unstable finances are investing tremendous cognitive and emotional energy without easy solutions."
"Those in financial distress are not lazy; they are engaged in a constant struggle."
"Many people are experts at managing their money but are still facing financial insecurity."
"Statistics often obscure the human experience; we need more qualitative insights to understand financial struggles seriously."
"Cultural context influences how families handle money; we must be aware of diverse financial practices."
"Talking about finances touches on deep feelings of shame that people carry, and we must create a safe space for that."
"Many researchers avoid 'rough neighborhoods' but we must be willing to engage with all communities for true understanding."
"Inclusivity in financial research is essential; the stories of the financially vulnerable matter to developing effective solutions."
More Videos
"Don't try to solve for the system, try to understand the request."
Jacqui FreyFlow and Superfluidity for Design Orgs
November 7, 2018
"It's not just the mind that needs communication to thrive, it's also our very human hearts."
Laura Gatewood Laine ProkayBeyond Buzzwords: Adding Heart to Effective Slack Communication
September 23, 2024
"Your insights need to be framed in a way that talks to overall goals you're trying to achieve."
Johanna KollmannInsights-Driven Product Strategy: Get your Research to Count
December 6, 2022
"The conference would not be as beautiful without her."
Bria AlexanderDay 3 Welcome
September 25, 2024
"A great design solution for a poorly defined problem is infinitely worse than an average solution applied to a well-defined problem."
Billy CarlsonIdeation tips for Product Managers
December 6, 2022
"The most underutilized asset in a retail environment is the store employees themselves."
Catherine DubutBridging Physical and Digital Spaces: Approaches to Retail Service Design
March 18, 2021
"At Salesforce, our values are at the core of what we do."
Kim Holt Emma Wylds Pearl Koppenhaver Maisee XiongA Salesforce Panel Discussion on Values-Driven DesignOps
September 8, 2022
"What's the last bad experience you had with another discipline?"
Adrian HowardSturgeon’s Biases
September 25, 2024
"Designers can be a little enigmatic and protective of our work."
Asia HoePartnering with Product: A Journey from Junior to Senior Design
November 29, 2023
