Pocket Einstein: Managing Your Finances in the 21st Century

The ability to access and use financial services is critical to managing day-to-day life, weathering unexpected events, and capturing opportunities. Yet, some 46 percent of working-age adults in developing countries remain excluded from the formal financial system. That doesn't mean they don't use finance. It means they use the age-old informal mechanisms such as the moneylender, the pawnbroker, or the rotating savings club that can be unreliable and very expensive. In developed countries, working families are more likely to be under- or badly served rather than outright excluded.