Providing financial counselling to the poor

Description

Providing financial counselling to the poor involves offering accessible, practical guidance on managing income, budgeting, debt reduction, and savings. This strategy aims to empower individuals with the knowledge and tools to make informed financial decisions, avoid predatory lending, and break cycles of poverty. By addressing specific financial challenges and promoting sustainable habits, financial counselling helps vulnerable populations achieve greater economic stability and resilience.

Implementation

Self-Employed Women's Association (SEWA) in India provides financial counselling for poor women. The results are that women learn to use their own funds rather than borrowed funds, become able to convert savings into investment, and become able to survive financial crisis, emergencies etc. through insurance and other financial planning.