Being Thrifty on a $100K Wage: Austerity in Family Finances

Understanding how families manage their finances represents a highly important research agenda given the recent economic climate of debt and uncertainty. To have a better understanding of the economics in domestic settings, it is very important to study the ways money and financial issues are collaboratively handled within families. Using an ethnographic approach, we studied the everyday financial practices of fifteen middle-income families. Our preliminary results show that there is a strong tendency to live frugally; that, people apply various and creative mechanisms to minimize their expenses and save money seemingly irrespectively of their income. To this end we highlight some implications for designing technologies to support household financial practices.

Fostering collaboration in the management of family finances

Managing finances is a practice carried out daily in homes across the world. Despite this, the practice is not yet a strong focus for HCI work in the home. This paper looks specifically at the ways that families organise and manage their finances. Based on a process of in-situ qualitative interviews, we find that money management is often a collaborative process in the family and occurs in a similar way to other household tasks; as part of existing divisions of domestic labour. Participating families reflected upon the creative and often low-tech systems they used to manage their finances and ideas they had for “ideal” technologies that would better help them organise their money. This paper presents ideas for fostering collaboration around family finances. Design propositions are made towards a Family Holiday Expense Tracker and family-situated bill payment reminder, both of which aim to encourage whole-of-family collaboration around money management and better including children in what is, at-present, an activity they are largely excluded from.

Arrêt du conseil d'Etat du roi qui nomme des commissaires pour liquider les finances et droits des officiers sur les ports et quais de la ville de Paris

[Acte. 1716-05-02. Paris]

Édit... portant suppression des offices de conseillers du Roy notaires et secrétaires dans les cours de Parlement, Chambres des Comptes et Cours des Aydes, Grand Conseil, Requestes de l'Hostel et du Palais, Conseils supérieurs et provinciaux, Cours des monnoies et Bureaux des Finances ; ordonne que les greffiers en chef des cours seront tous tenus de se pourvoir de l'un des offices de secrétaires, créez dans les chancelleries près les Cours par édit... de juin 1715 ; que la vente des offices de receveurs et payeurs des gages des officiers desdites chancelleries créez par édits... de novembre 1707 et décembre 1708 sera continuée ; et restablit les gardes des sceaux des chancelleries près les Cours dans leurs offices, en payant un supplément de finance... [Enregistré au Parlement le 13 juin 1716.]

[Acte royal. 1716-05-00. Paris]

Sociétés et valeurs mobilières . Textes législatifs et réglementaires. [Recueil des principaux textes relatifs aux sociétés et à certaines valeurs mobilières. Edition mise à jour au 1er février 1956. Ministère des Finances et des affaires économiques.]

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