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Dear Diary: New Financial Diaries Research Explains Why Many Americans are So Angry
Would you rather have more money or a more stable financial life? A striking 92% of Americans in a recent survey chose stability - a sign of the deep undercurrent of financial insecurity running through the world's richest country. A new book called "The Financial Diaries, How American Families Cope in a World of Uncertainty" explores this insecurity in remarkable detail. Its co-author, Rachel Schneider of the Center for Financial Services Innovation, discusses the research and its far-reaching implications in NextBillion's latest podcast.
- Categories
- Financial Inclusion, NextBillion Originals
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A Demographic Time Bomb: The Urgent Need to Prepare Undocumented Hispanic Immigrants for Retirement
The United States is home to some 11.3 million undocumented immigrants, mostly Latin American. These immigrants are aging, and whether they stay in the U.S. or return to their home countries, many are woefully underprepared for the financial burdens of retirement. The consequences of ignoring their retirement savings needs are significant – but so are the opportunities to reach them with financial products.
- Categories
- Financial Inclusion, Investing
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A Solution to Urban Blight? Crowdfunding’s Potential to Transform Cities
Lending through peer-to-peer platforms, or "real estate marketplace lending," involves connecting borrowers seeking alternative sources of financing for their real estate investment needs with investors seeking passive income opportunities. As more Americans embrace crowdfunding sort of solutions, we believe cities that were once forsaken can be revitalized and brought back to life.
- Categories
- Financial Inclusion, Investing, Technology
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Serving the 57 Percent: That’s the percentage of American adults who are struggling financially – CFSI research illuminates their needs
At first, the headline number may seem hard to believe: 57 percent of American adults are struggling financially. But that's what the Center for Financial Services Innovation found in its recent Consumer Financial Health Study. We spoke with Aliza Gutman, the CFSI director who has led the study, about the challenges facing this group - and the opportunities in serving them.
- Categories
- Education, Financial Inclusion
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In America’s Payday Loan Capital, Innovative Microcredit Helps Break The Debt Cycle
Mississippi has more payday lenders per capita than anywhere else in America, but an innovative partnership is helping to give the state's residents access to responsible small-dollar loans.
- Categories
- Financial Inclusion
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It’s Hard Out Here for a Personal Finance App: CFSI offers tips on creating a successful app for the underserved in a tough competitive landscape
As mobile access has exploded worldwide, smartphone ownership has skyrocketed among low-income Americans, spawning countless personal finance apps for the underserved. These apps can provide services, offer timely guidance, and help users achieve financial goals. CFSI discusses how developers can create apps that improve financial health, while surviving in a cutthroat market.
- Categories
- Financial Inclusion, Technology
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Four Ways Big Data Can Improve Financial Lives: CFSI previews its upcoming report on harnessing data technology for the underserved market
Big Data is a buzzword, but it’s also a very real phenomenon: analysts estimate that annual data production will increase by a whopping 4300% between 2009 and 2020. In advance of a new report on the subject, the Center for Financial Services Innovation discusses four key trends driving Big Data innovation that can unlock value for both financial providers and consumers.
- Categories
- Education, Financial Inclusion
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Competing with the ‘Bank of Mom’: What makes informal finance so popular – and how can financial services providers respond?
After tracking the financial activities of lower-income Americans for a full year, the U.S. Financial Diaries project found that informal financial mechanisms were enduringly popular - even when formal alternatives were used. What makes them so appealing - and how can financial services providers respond? We discuss these issues in part two of our Q&A with FAI Executive Director Jonathan Morduch.
- Categories
- Education, Financial Inclusion
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