Keeping detailed records of how much money is in an individual bank account and tracking receipts of transactions are highly valued by many older people who carefully manage their finances. However, Modern payment technologies and bank accounts have a tendency to penalise those who wish to keep tight control of their finances. There are fewer opportunity to receive paper statements and paper bills, and the paper receipt at the shop is now becoming something to be asked for rather than given out of courtesy. This is at odds with the experiences and desires of the eighty-something-year-old participants in the New Approaches to Banking for the Older Old project, many of whom enjoyed and took great pleasure from documenting the various incomings and outgoings.
The Balance Ticker is a simple device that helps support this practice in a period where physical records of transactions are becoming less available. An account holder keeps the device at home and it provides an ongoing and ever-increasing record of what money is going in and out of a specific bank account over a period of time. It is designed to facilitate record keeping and control, providing just enough information for each transaction (time, amount) that its owner still has to go through the effort of documenting where the payment was made and what it was for and chase up those transactions that appear incorrect.
Part of the New Approaches to Banking for the Older Old project.