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I often think the most effective means to increase loan repayment rates is to provide the debtor with a effective accurate money management tool - sort of like
by lifeisstillgood 7y ago
I often think the most effective means to increase loan repayment rates is to provide the debtor with a effective accurate money management tool - sort of like Mint but better. I am supposedly a well educated intelligent software engineer and yet trying to get a single unified view of what I spent is outrageously challenging or requires discipline at a level of dieting.
Apart from fraudsters, people who take out a loan want to pay it back but like dieting human failings cause the problems.
Just a instant check on what you have spent globally will make a huge difference in budget management.
- cjsawyer 7y agoThat’s part of the problem. A budget is a plan, not a running total. You budget what you can spend then change what you do spend to match. (If only it were that easy, though. I’m human too)
- lifeisstillgood 7y agobut an accurate and up to date running total of how you match to budget helps enormously (even if the budget is the default of "don't spend it all"