Prostitutes aren’t exactly known for their good money management skills or financial knowledge. Most of them are in a vicious earn, give to pimps and spend cycle.
In India, a group of over 900 prostitutes has started their own bank so that they can start saving and, hopefully, pull themselves out of the vicious world of prostitution. Many of them have the same dreams as everyone else. Save for an education, buy a house, or save for a future they hope to have.
There were a couple points in the article that I found interesting. First, they were saving very small amounts of money, but they were still saving. They certainly act as inspiration for those people that think they don’t make enough money to save. Secondly, they take their money to the bank daily. I’m sure they aren’t in an environment that really gives them a place to keep their money, so the daily bank visit helps them keep the money safe. Third, they recognize that no one is looking out for them and it’s up to each of them to take care of their situations.
Anyway, I just found it interesting and thought you might too:
http://seattletimes.nwsource.com/html/nationworld/2003977799_bombay27.html
I just wanted to say Thanks for sharing this!
There’s a book out about money management stratgies of the poor. Looks interesting, can’t foor the life of me think what it’s called