Do poor people save?
Poor people save all the time, although mostly in informal ways. They invest in assets such as jewelry, domestic animals, building materials and things that can be easily exchanged for cash. Access to secure, formal savings services provides a cushion when families need more money for seasonal expenses and in tough times. Secure savings accounts allow people to guard against unexpected expenses associated with illnesses, build assets, prepare for old age or pay for school fees, marriages and births.
