Inclusive Financial Services for People Living in Poverty

Abstract

This paper is intended to be a supplemental justification to an asset-building, financial literacy curriculum, which is provided as an appendix at the end of this document1. The following paper is the big picture framework of the lack of and apparent need for inclusive financial services for those who are poor. The scope of the problem faced by unbanked and underbanked populations throughout the world is certainly an injustice that needs to be addressed. Microfinance and inclusive financial services for people who are poor are a way to equip the unbanked and underbanked populations with added resilience. In the U.S., pairing financial education with affordable financial services can help those who are poor build their assets and become financially stable. An anecdote about the accompanying financial literacy curriculum is included at the end of the paper.