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Achievers

I want to reach my goals
In this mindset, people define success by [...] read more
Achievers

Who are they?

In this mindset, people define success by budgeting for clear, often tangible goals. This helps them feel in control and prepared for the future.

  • GENDER
    Skews male
  • AGE
    Skews under 30
  • HOUSEHOLD TYPE
    Even spread
  • INCOME
    Even distribution
  • Key beliefs
  • Feels empowered and optimistic about future goals
  • Long term is more important than day to day expenses
  • Making wise financial decisions now allows them to save and work for something in the future
  • Structure is good for keeping track of where money goes, but they feel comfortable as long as they’re sticking to the spirit of their budget
  • Key behaviors
  • Set long term goals and plan financial behavior accordingly
  • Use rules to guide financial decisions
  • Review progress on long term goals through tools and resources
  • Likely to adjust budgets based on new situations and spending habits
  • Seek information and guidance to best achieve goals

Achievers’ attitude to finance positions them as potentially profitable customers in the future. Invest in helping them now and the reward will come.

Money Modes

“MANAGE it”

Achievers showed more “Manage it” and “Get it” moments than Experiencers, Balancers, and Explorers did. They are determined to get what they want.

Setting and working toward long term goals
They are determined to get what they want

Setting and working toward long term goals

One of my goals is to get a condo in Florida eventually. You know in two years if we keep this up, we could be out of debt and we can have an extra 2K a month.
— Lisa O., 39
Feeling excited and optimistic about saving

Feeling excited and optimistic about saving

I feel excited because the checks we are depositing will go towards our Asia trip in a few months. I feel secure and proud that we [my husbund and I] were able to make it.
— Anne B., 33
Budgeting to make sure my goal is reachable

Budgeting to make sure my goal is reachable

Now we’re setting aside money [from the monthly income] for improvements to the house and setting budgets for groceries, entertainment...
— Kenny M., 31

Banks have a golden opportunity to make Achievers into lifelong clients by helping them to reach their goals.

Tools

TOOL DISSATISFACTION

Off the rack tools can underwhelm, so Achievers make their own systems. They have high analog tool use (eg. binders, folders) and create custom “hacks” to addapt tools to their needs.

Analog tools

We just used our budget folder when we went out to eat.
We just used our budget folder when we went out to eat.
— Kurt S., 38
When we want to do an activity, we take money out of the allocated folder and use it.
When we want to do an activity, we take money out of the allocated folder and use it.
— Kurt S., 38

Custom “hacks”

[Trello] is not really a financial app, but I have adapted it to keep track of some of my investments.
[Trello] is not really a financial app, but I have adapted it to keep track of some of my investments.
— Cathy T., 55
[Trello] The website syncs seamlessly with the app on my iPhone and iPad.
[Trello] The website syncs seamlessly with the app on my iPhone and iPad.
— Cathy T., 55

Achievers' requirements for tools to manage their money are more sophisticated than the products banks currently offer.