The Ends of the Month
Over the course of a generation, electronic payments including credit cards, debit cards and Apple Pay removed friction from our wallets, but disrupted old habits and practices many once used to manage finances. Loss of these analog tools, as much as wage stagnation or volatility, helps explain why so many households struggle at the end of the month, using expensive short-term credit or gambling on transaction timing as their account balances approach zero.
About the Author
Corey Stone has had a long association with the Financial Health Network, first advising on its inception, then leading one of its early fintech investees (Pay Rent, Build Credit), and then as a Fellow. Now, as Entrepreneur in Residence he supports Financial Solutions Lab cohort companies, advises on consumer data sharing and our other research and policy development efforts, and writes about the consumer finance ecosystem in blog posts and elsewhere.
