Over the years, I’ve tested many ideas for money management tools from banks. The aim, to help customers have better control over their money and be more aware of how they’re spending it. The reaction was usually rejection. Why? Because people did not want to be told what to do with their money. The positioning and tone were patronising, condescending, a power battle – parent to child.

Being told to manage our money is a sign that we’re out of control, can’t cope, don’t know what we’re doing.

Managing our money is seen as boring and nerdy. Or at least it was until the likes of Monzo Bank and Starling Bank repositioned it. Making it an integrated element of the app, automatically categorising each payment using smart defaults meant zero effort for customers. There was no finger wagging, simply a breakdown of spending using consumer language, understood by all.

The result – a money management tool (not that they’d call it that) that people were talking about, showing their friends. They could see the benefits and wanted to share it. It wasn’t something to be embarrassed about, it was the sign of savvy, switched on individuals.

Being aware and in control of your spending gives your choices. It can open up opportunities. It puts you in control. But it needs to be easy.