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Another innovative budgeting app. However, I wonder what the margin of error is when predicting income on a weekly basis. What if there is a bad week for a lot of users, worse than predicted, and the company is forced to give an amount of credit that exceeds their lending capacity? I guess they might have some kind of default insurance...


Joan commented on What can we learn from Alcoholics Anonymous?

This is truly a very interesting subject. Unlike alcoholism or other addictions that usually imply a clear physical dependence, the danger of money mismanagement, compulsive wasting, gambling and similar disorders is often underestimated only because it is not physically noticeable. Nonetheless, it is a problem that an increasing number of people suffer from, only to find themselves with little or no means to deal with it.

After some research, I've been able to find only one financial therapy association (, which provides a short list of professionals, all of them working in the US and possibly charging a fee for their services that might exclude the majority of the population affected by the problem. Overall, this fact reinforces my initial theory that there is little or no availability of counseling resources or special programs aiming to tackle this type of personal struggle.

You can read further about the existing financial therapy on the next article:


Joan commented on Kenyan Chama

I've been reading further about Chamas and, despite being a very useful and community-based form of association, most of them hit a stonewall for different reasons: lack of legal body, mismanagement, embezzlement, high credit default rate (and little or no means to ensure/enforce repayments) among others.

We should aim to promote integration of charmas into greater networks with higher supervision. I guess that some of the reasons that trigger inefficience of many Charmas are 1. geographical dispersion and 2. lack of financial education. Tech & communications improvement and advances in education (this requires sustained government commitment on a long-term basis).