How does growing up in poverty impact our relationship with money and financial services? Lead content designer Ray Newman shares his lived experience.
We cover how poorer people pay more for essential services and goods (poverty premium), deceptive patterns, financial vulnerability, and access to digital services.
We discuss how assumptions and a lack of understanding of the realities of poverty can lead to non-inclusive and inaccessible services.
01:17: Ray's experience with numbers
Ray shares his experience with numbers and how he copes with numbers as a content designer.
02:34: Content designers and number anxiety
The prevalence of number anxiety among content designers and the strategies they use to manage it.
03:59:Financial inclusion and poverty
Ray talks about his recent discussions on designing for people in poverty, sharing his own experiences growing up in poverty.
05:44:The psychological impact of poverty
Ray delves into the psychological effects of growing up in poverty, including the anxiety and habits formed around money.
08:04:Deceptive patterns and financial vulnerability
Laura and Ray discuss how people in poverty are vulnerable to deceptive patterns in services and the importance of transparency in pricing.
13:20: Access to services and digital inclusion
The challenges of accessing services, the role of public spaces like libraries, and the impact of digital-only services on vulnerable populations.
19:11: Financial habits and inclusion
Financial habits formed due to poverty, such as the reliance on cash and the challenges of digital payments.
25:26: The role of organisations in financial inclusion
Ways organisations can practise financial inclusion, such as changing their mindset and being transparent about costs.
44:02: Practical steps for inclusive design
Practical advice for designers on how to consider people living in poverty from the start of a project.
Follow Ray onLinkedIn andBluesky.
Show notes, bio and transcript available at accessiblenumbers.com/poverty-and-financial-inclusion