Category Archives: research

The Financial Diaries by Jonathan Morduch and Rachel Schneider

image1 (15)The Financial Diaries details a study conducted by a research team directed by Jonathan Morduch and Rachel Schneider that investigates how families receive and spend income within a single year. I picked this up per the suggestion of a colleague that it would be helpful background reading for a project I’m embarking upon soon and I’m so happy that I did.

This book dives into the fact that we typically think of and analyze income in a way that is not compatible with how most families interact with money on a regular basis. Their study uncovers many essential pieces of family spending that we are missing when we think about income in more traditional ways.

When we think about a family’s annual income, we are often missing the spikes and dips of income that occur for families with inconsistent, and even sometimes, consistent income. For example, receiving a large tax refund might make a family’s income spike in a predictable way that they count on, through putting off paying certain debts or making large purchases until they receive their refund check. Families with inconsistent income, such as those with work that is seasonally influenced or is related to regional events, often have to plan ahead and put large chunks of their money aside to cushion their income during months where their paycheck is lighter. There are many reasons why this is difficult for families to surmount and this book does an excellent job of portraying these spending realities.

My big takeaway from this book is that (somewhat obviously, but something I hadn’t been able to articulately describe before) a lot of families are “sometimes poor.” The idea here is that families who appear to have middle income and possess the assets to be “stable” when you look at their family’s annual income actually have moments of being sometimes poor, where their income is dramatically lower than it is at other times of the year. Families confront this by trying to prepare for these dips in income, but also devote a lot of their income spikes to paying for purchases that were necessary during income dips. For these families, it becomes almost impossible to save for the future when they’re constantly catching up.

This was a very nuanced, necessary reframing of spending and saving within American families. I highly recommend this book to anyone who wants a better understanding of income instability in America.

Publication Date: 4 April 2017 by Princeton University PressFormat: Hardcover.

Authors: Jonathan Morduch web & Rachel Schneider @twitter

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Lean In by Sheryl Sandberg

leaninAfter learning that I would be dashing to Silicon Valley for the summer, I snatched up Lean In by Sheryl Sandberg (and co-writer Nell Scovell) to get a taste of her experience being one of the most powerful people at one of the most powerful companies in the area (she’s the Chief Operation Officer at Facebook).

Lean In is a slight combination of memoir, self help, and description of Silicon Valley. The parts I enjoyed most about the book revolved around Sandberg’s weaving in research findings about the workplace with real anecdotes. As a woman currently in tech, who often doubts herself (hello imposter syndrome, my old friend), reading about these studies were empowering. Many of the studies showed how women repeatedly disadvantage themselves by their mistaken beliefs about their own contributions (aka not believing that your contributions are worthy of a seat at the table) and their colleague’s incorrect beliefs (based on stigma, bias, etc.).

While I did enjoy most of the book, there were some caveats, most of which Sandberg highlights herself. A lot of her advice is specific to women who are 1)  partnered to supportive humans who empower them and share household responsibilities, 2) make an amount of money at their occupations that exceeds the costs of childcare, and 3) are well educated. This book is rooted in an ideology of “this is how I did it and you can too!” which is fundamentally false for many women who are or have been in the “workforce.” While Sandberg easily ties her success to her individual situation, that situation does not apply to everyone and there are many ways to get to a similar position to Sandberg’s other than her exact path described within the book.

All in all, I learned a bit, felt empowered, and wanted to send a hearty thanks to all of the powerful women in my life who have lifted me up in so many ways, all whilst encouraging me to do the same one day. That said, I was very much the target audience for a book like this and I could imagine it not being received as well by other readers.

Publication Date: 11 March 2013 by KnopfFormat: Hardcover.

Author: Sheryl Sandberg Lean In Organization/facebook/instagram

Mini Review: Core Knowledge and Conceptual Change, edited by David Barner and Andrew Scott Baron

coreknowledgeI read most of this as the textbook for a graduate course on Cognitive Development. As someone who was new to studying core knowledge and conceptual change, I thought this book did a great job of including the different studies that have led to current thoughts in the field. Each piece is composed by different students of Susan Carey’s, meaning that the tone and writing style shifts from chapter to chapter. The sequential flow between chapters didn’t always make sense, so I recommend picking and choosing which chapters you want to use and arranging them in whatever order is best for your purposes. My favorite chapters were 4. Bundles of Contradiction by Andrew Schtulman & Tania Lombrozo, 8. Different Faces of Language in Numerical Development by Susan Levine and Renée Baillargeon, and 9. How Numbers Are Like the Earth by Barbara Sarnecka.