Portfolios of the Poor

How the World's Poor Live on $2 a Day

Daryl Collins

Recommended By

Book Synopsis

"Portfolios of the Poor" by Daryl Collins dives into the lives and financial struggles of the world's poorest people. Through extensive research, the book reveals the daily challenges faced by those living on less than $2 a day and provides insights into their financial choices and strategies.

Utilizing detailed financial diaries, Collins and her team track the financial lives of families in Bangladesh, India, and South Africa, documenting income, expenses, and savings on a daily basis. The book sheds light on how the poor manage their money in order to survive, highlighting their use of informal financial tools such as savings groups, loans from friends and family, and moneylenders.

The authors challenge the notion that poor households are unable to save, showing that even the smallest amounts can accumulate over time. They also analyze why traditional banking and microfinance solutions often fail to address the needs of the poor, often burdening them with high interest rates and inflexible repayment terms.

Furthermore, "Portfolios of the Poor" explores the potential of new financial services, such as mobile banking and microinsurance, to improve the financial well-being of the poor. The book emphasizes the importance of designing financial products and policies that are tailored to the specific needs and capabilities of the poor.

In essence, "Portfolios of the Poor" offers a unique and eye-opening perspective on poverty and finance, presenting a compelling case for rethinking the way financial services are provided to the most vulnerable populations. It urges policymakers, bankers, and development practitioners to take into account the financial realities faced by the poor and work towards creating inclusive and accessible financial systems.

Explore More Books

See All
The Hour Between Dog and Wolf
The Middle Kingdoms
Catch-22
Winning
Confessions of a Pricing Man
The Sixth Man
The Fourth Revolution
Ask The Dust
Frisco Kid
She Said
Secrets of Closing the Sale
The Bed of Procrustes
Chapterhouse: Dune
Fundamentals of Plasma Physics
The Almanack of Naval Ravikant
The Age of Surveillance Capitalism
The Devil’s Financial Dictionary
Rick and Morty Book Three
What If?
Keeping At It
Endure
Bel Canto
The Mind Doesn't Work That Way
Gold In The Grass
Dune
Mess
Poor Charlie's Almanack
Foundation and Earth
The Legend of Henry Ford
The Weather Makers
A Time for New Dreams
On Writing Well
The Nature of the Beast
Remote: Office Not Required
The Third Chimpanzee
The DevOps Handbook
Blackout
English Culture and the Decline of the Industrial Spirit, 1850-1980
Traction
The Magic of Thinking Big
Happy Money
The Mind of Napoleon
The Yoga Sutra of Patanjali
Breath From Salt
Cultural Strategy
Getting Real
Tribe of Mentors
Simple & Direct
The Psychedelic Explorer's Guide
Simple Rules
The Great Challenge
Tenth of December
Not Fade Away
Goethe’s Poems and Aphorisms
Thank You For Smoking
Mathematician's Delight
The Inner Lives of Markets
Maisy Mouse Collection
More Heat Than Light
The Healing Journey
Wild
Life 3.0
Discovering Your Personality Type
Of Wolves and Men
Scale
Warren Buffett
The Unbearable Lightness of Being
Devil's Harbor
The Utopia of Rules
The Power of Habit
Rich Dad's Cashflow Quadrant
The Sovereign Individual
Tools and Weapons
Competing in the Age of AI
How to Be Topp
The Warrior Ethos
Anything You Want
No Bullshit Guide to Math and Physics
The Female Brain
Adaptive Markets
Things Hidden Since the Foundation of the World
The Creative Act
The Charisma Myth
A Sense of Where You Are
The Order of Time
With the Old Breed
The Diversity Bonus
Welcome to Your Brain
Toussaint Louverture
Fallout
Tlon, Uqbar, Orbis Tertius
The Truth Machine
Good To Great
The War of Art
Technical Analysis of the Financial Markets
Plowman's Folly
Friday Forward
The Price of Tomorrow
The Art of Memoir
The Sleep Revolution