The recent news that MoneyDashboard is suddenly shutting down has exposed a gap in the way OpenBanking works. It is simply impossible for a user to get read-only access to their own data without using an aggregator. And there are very few aggregators around. Why is it impossible for me to get programmatic access to my own data? There are two interlinked reasons which I'd like to discuss. …
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My wife and I run a side project called OpenBenches.org - it is a fun little crowd-sourced memorial bench site. It's mostly fun, except when the bills come due! Most hobby sites and side projects don't cost a lot to run. Lots of services have generous free tiers to (ab)use, and they can pay well in "exposure". But OpenBenches is reaching a tipping point where it is slowly overwhelming us. …
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I'm not sure how many people know this, but I thought I'd share something I learned a few years ago when I worked for a mobile phone seller. Most modern smartphones are too expensive for people to purchase outright. At the most extreme end, the iPhone 14 Pro Max costs £1,200. So a typical customer elects to pay £50 per month for 24 months. The customer gets a new phone for a reasonable monthly …
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My wife and I are planning on being DWZ DINK FIRE. That's a lot of letters to say we want to retire early and not leave any money to our non-existent kids. This book is a (slightly shallow) exploration of 26 people on similar journeys. They're all American (or now living in the USA) so it has a slight bias to talking about things like 401(k) and medical bills which are absent in most other…
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There's an incredibly distressing story in the BBC about a vulnerable elderly man who was conned out of his life savings. Fraud victim gets surprise £153,000 refund despite rules BBC News In the story, the heartless bank refused to refund the fraud victim due to an absurd technicality - the money was sent to a foreign account rather than a UK account. Once again, big business bending the rules …
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Electricity demand varies throughout the day. When demand is higher, electricity prices go up. Most UK consumers are insulated from this variability - we pay a fixed price per kWh no matter what the actual wholesale cost. But it doesn't need to be this way. Exposing users to the immense variability in pricing is probably too dangerous - as seen in Texas recently. Imagine if your electricity…
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Google has recently increased the price it pays out to security researchers who responsibly disclose a vulnerability. That got me thinking. Is money the best thing with which to reward people? There's an interesting (if a little silly) economics paper about why gift giving is inefficient. The crux of the argument, as I understand it, is that gift-givers rarely know what recipients need or…
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Spoiler Alert! We're all going to die. I'm the sort of person who buys a fancy jar of something delicious - and then I save it for a special occasion. Yet, somehow, those special occasions never seem special enough. And so the jar sits at the back of the cupboard waiting for a train that's never going to come. How many of you do the same? This book attempts to change that. Why do you spend your …
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When I was young, I had a piggy bank. A piggy bank is incredibly secure. It's fairly big - so it is hard to lose. It is brightly coloured - so you can find it easily. No one else can see how much money there is in there. The only way to get money out is to smash it - providing visible evidence if someone has robbed you. And smashing makes a noise - deterring would-be thieves. A piggy bank is…
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I recently read this interesting, and distressing, story of a man who was drugged and robbed. A form of crime which has been going on for centuries. But the 21st Century twist is that the thieves forced him to transfer large sums of money via his phone's banking apps. While under the influence, the victim used his usernames, passwords, PINs, and biometrics to send money to the criminal's…
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This is a thought experiment inspired by the sort of rambling and speculative conversations my wife and I have been having in lockdown. Most countries in the world place legal limits on alcohol production at home. There are, usually, several good reasons for this: Improperly brewed alcohol can cause severe health problems - including death. Poorly set up stills can - and do - explode.…
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Messaging app Signal is launching a payment service in the UK. This will allow users to send each other money cryptocurrency. Many people have written about why this is a daft idea. But they've mostly talked about why cryptocoins corrupt everything they touch. I want to talk about why this is a shitty idea from a product perspective. It all comes down to user needs. What pain point are you…
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