Why budgeting is terrible advice for lower-income people
Originally published in Salon on October 9, 2024
Salon’s analysis of why conventional budgeting advice often misses the mark for lower-income households, featuring Sloane Ortel’s perspective on financial guidance.
Ethical Capital Perspective
“So many of the individuals that I work with have been directly harmed by normative financial advice that makes them feel bad for not adhering to some unexamined ideal”
“Often the problem is just that there’s not enough money coming in… So it can kind of fall flat when someone recommends doing a bunch of spreadsheet work in order to solve a problem [that actually lies] with the income side of the household’s financial equation”
— Sloane Ortel, Chief Investment Officer at Ethical Capital
Read the full article: Salon - Why budgeting is terrible advice for lower-income people