Personal Finance

Personal Challenges of Financial Nomads

Posted by on Jun 23, 2014 in featured, Personal Finance | 0 comments

Personal Challenges of Financial Nomads

Half the world lives without the benefits of financial services. Most of us don’t understand what it means to be a “financial nomad” – living without full access to traditional banking – but the costs are great. To put it in perspective, globally there are 4.5 billion adults who are eligible for access to financial services, yet only 2.1 billion have taken advantage of this and established relationships with banking institutions. Most of these people have basic savings accounts that don’t offer debit cards, checkbooks, etc. – what I like to call non-transactional banking – which means limited access to low-cost money transfers and bill payment options. Hard...

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