No. of Recommendations: 8
I've no problem with credit, if it is used as a TOOL- not a crutch or a lifestyle. How you use it, is of course a matter of choice and education

It's interesting, by the way, that this year's Nobel Prize winner works in the same manner, and has sparked dozen of similar groups. The Graneen Bank lends tiny amounts of money to the poorest of the poor. Those people then spend it on something that will help them earn money: buying beads to sell, buying a cow, even buying a telephone that is used by others who pay a tiny amount per call.

The loan is paid back, with interest, and then is loaned to the next person. And so, in tiny ways, poor people start pulling themselves up from poverty.

But they need that tiny start to get them going.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.