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The Poor and Their Money: Microfinance from a Twenty-First Century Consumer's Perspective
by
The Microfinance revolution is usually considered to have been led by the NGOs, donor agencies, and more recently banks who offer poor people financial services. But what can we learn from the ways that poor people already manage their money? What are the essential elements that they prize so much that they are willing to pay high interest rates to money lenders, or spend
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Paperback, 170 pages
Published
November 25th 2009
by Practical Action Publishing
(first published July 27th 2000)
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Start your review of The Poor and Their Money: Microfinance from a Twenty-First Century Consumer's Perspective
Short and sweet with one main point: poor people earn variable, tiny incomes, and manage their finances via savings and loans (thought of as saving over time in reverse) to produce useful lump sums of money when they need it. The book includes comparisons of different methods to save and borrow available to poor people in developing countries, from "on the hoof" to clubs and local creditors to NGOs and microfinance institutions.
For the story behind the conclusions presented here, see the longer ...more
For the story behind the conclusions presented here, see the longer ...more
Not a book you read for pleasure. As an Anthropologist I enjoy his straightforward comparison of a variety of ways that poor from around the world handle their finances. Very informative if you are interested in the subject of small scale finances.
“From the best reporter on finance and the poor that I have ever seen, The Poor and Their Money shines a brilliant light on a world about which people are in the dark.”
- Thomas Easton, Asian Business Editor , The Economist
- Thomas Easton, Asian Business Editor , The Economist
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An independent researcher and consultant in financial services for the poor, especially in south and south-east Asia, Stuart Rutherford has lived in Bangladesh since late 1984. He concentrates on imagining and field-testing innovative financial services schemes for the very poor in the countryside and in the towns. He also writes, helps local NGOs to develop financial services schemes, and
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