How poor women can double their money
Saving for Change, a program of Oxfam America, works in rural areas in 13 countries across the globe, training women to save regularly by meeting every week to put a few cents into a savings box and to borrow from their group’s fund as needed--tiny loans that they later pay back with interest, writes the Christian Science Monitor. At the end of a savings cycle, typically one year long, the fund is divided among the members, who receive not only their own savings but a portion of the profit. The yearly return on the savings is 30 to 40 percent or more.
August 7, 2013 11:23 AM