My name is David Ford, and for 15 years I’ve been researching how family stories influence financial decisions. It all started with the decoding of the diary of a merchant’s great-grandfather, where he described in detail the lending schemes of the early XX century. Today, my work combines archival research with the analysis of modern banking products. Every family is a living textbook on economics, where chapters are written by generations.
During an expedition to Siberia, I discovered how the descendants of the Old Believers preserved unique patterns of microloans within the community. This inspired me to develop the “generic scoring” methodology, which is now used by three regional MFIs. My clients-from descendants of noble families to farming dynasties-are learning to see their history as a resource, not a burden of the past.
Financial advice for families
Over 12 years of practice, I have developed a risk assessment system based on the success stories and failures of the company. For example, families who have experienced collectivization often unconsciously avoid long-term loans. My goal is to help them overcome the trauma of the past without losing touch with their roots. To do this, I combine archival research with the analysis of modern banking products.
When working with migrants, I take into account the cultural characteristics of financial behavior. A client from Central Asia can trust not banks, but local mutual aid funds — this requires a special approach to lending. My articles on microloans for diasporas became the basis for reforms in three microfinance organizations.
Research and publications
My first book, Ancestral Debt: How History Shapes Your Credit Score, has been translated into 4 languages. In it, I proved that families with experience of surviving hyperinflation adapt to crises faster. The study covered 300 family archives from Russia, Germany and Argentina. Reviewers noted the innovative approach to analyzing insurance policies as sources of genealogical data.
Since 2020, I have been writing a column in the Financial Ethnography magazine, where I analyze cases from practice. Recent material on collateral schemes in pre-revolutionary Jewish communities has sparked a debate among economic historians. My work is cited in academic papers on behavioral finance.
Education
I completed my Master’s degree in Financial Institutions History at St. Petersburg State University of Economics. The dissertation is devoted to the role of usury in the formation of merchant dynasties in the North-West of Russia. He interned in the archives of Prague, where he studied the migration patterns of Russian emigrants of the first wave.
He received additional education at the digital genealogy course at the University of Tartu. There I learned the methods of analyzing DNA tests in the context of inheriting entrepreneurial skills. This knowledge helped me develop the author’s algorithm for predicting credit worthiness based on genetic markers of responsibility.
Working with archives
In 2017, I headed a project to digitize the tax returns of merchants in the Moscow province. The data found showed that 68% of households used schemes that resemble modern debt restructuring. Based on these findings, my colleagues and I created the Financial Patterns of the Past database, which is now used by historians and economists.
We are particularly proud of the restoration of the archive of the textile manufacturers ‘ family, which was lost in the 1920s. Found promissory notes and insurance policies helped the descendants to prove the rights to the patent of the XIX century. This experience formed the basis of my “archive audit” methodology for business families.
Cooperation with MFIs
While advising microfinance organizations, I introduced the practice of evaluating borrowers through the prism of family history. For example, a client with artisan ancestors is more likely to repay loans for workshop equipment. This approach reduced the percentage of delinquencies in three regional MFIs by 18% in two years.
The course I developed for credit supervisors includes an analysis of family traditions. We learn to see the connection between our grandmother’s pickle recipes and disciplined debt repayments. Unexpectedly, it works: customers begin to perceive credit as part of a generic strategy.
Family traditions and finances
In my practice, I often encounter “money rituals” that are passed down through generations. One family kept their wedding rings as collateral for emergency loans for 100 years — now they use a cryptocurrency wallet on the same principle. These examples prove that technology is changing the form, but not the essence, of financial behavior.
My family is a clear example of the connection between generations. My great-grandfather, an agronomist, kept a harvest diary, which became the basis for my expense accounting system. A teenage daughter is already helping analyze DNA test data, combining biology with economics. We’ve turned family dinners into brainstorming sessions on new topics.
Future plans
I am currently working on a project called “Ancestral Memory Bank”, a platform for storing and analyzing family financial histories. Goal: to create an algorithm that predicts credit risks based on genealogical data. The partners are two major banks and the EU Archive Agency.
We plan to launch a podcast with the descendants of famous entrepreneurs. The first issue will be dedicated to Prokopy Demidov, whose principles of debt management are relevant for modern sole proprietors. My dream is to develop a mobile application that turns family tree compilation into a financial planning tool.