Huffpost Impact

Microsavings Programs Build Wealth, Pennies At A Time

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MICROSAVINGS PROGRAM POOR
Microsavings programs may be key to helping struggling people escape poverty. | Alamy

www.washingtonpost.com:

The global financial crisis has turned us into a world of savers — including the poorest people on the planet.

Elsa Ligua is one of them. As a food stall vendor in the Philippines, paying for her four children to go to college once seemed unimaginable. But Ligua scrapes together 50 cents every day to give to a savings collector who visits her home. The money is deposited in a bank account that pays interest and is insulated from the daily demands of life below the international poverty line. She hopes to have $200 squirreled away by this summer -- enough to pay at least some tuition.

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