Financial Literacy Month: What Decades in UX Have Taught Me about Finances

It’s Financial Literacy Month! And while it would be easy to write it off as the corporate version of a hallmark holiday, I believe it’s a worthwhile idea. Here’s why:

Over a decades-long career in user experience, I’ve either talked to, or overseen the talking to, thousands of people. Very frequently the conversation has been on topics related to their finances. And what I’ve seen makes me nervous.

I’ve met some intelligent, educated, decent people whose expectations of what they’ll need in order to retire is setting them up for some difficult golden years.

I’ve seen countless people describe an attitude towards investing risk that was inappropriate to their stage in life or career trajectory.

I’ve heard people describe a strategy towards borrowing that would end up costing them more than they could afford.

And so, so many people betting on crypto with no idea what that meant.

The big exception is hard vs. soft credit pulls. People seem to have a really good handle on whether an acquisition site is doing a soft or hard pull. No idea why. Is some social media influencer talking about this?

Our surveys tell us over and over again that a top source for young people to learn about financial topics is their parents. The problem is that I’ve talked to their parents, and a lot of them are probably, innocently, confidently passing along spurious information. Spreading financial literacy can help people today, and future generations.

Money is getting harder to acquire, harder to keep these days. Taking a little time to learn more about how it all really works is a good idea for anyone. So celebrate financial literacy month:

Ask your employer what resources are available to you.

If you’re an employer, make sure your employees have access to clear resources.

And if you’re a financial services or retirement plan provider, make sure your educational materials are clear, concise, and useful; if you’re not sure how to do that, give us a call; we’ve got you covered.