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#1 The world’s poor are defined as those who live on less than two dollars a day. It is difficult to imagine what it is like to live on such a low income, and it is even harder to imagine how you would prosper if your income was just two dollars a day.

#2 Existing data sources are limited in their ability to answer these questions. However, after conducting several studies on how the poor manage their money, we found that they rarely spend every penny of their income right away. They instead save money, and borrow when they need to.

#3 The importance of reliable financial tools for the poor cannot be understated. If you're poor, managing your money well is central to your life.

#4 We developed a research technique called financial diaries, in which we interviewed poor households and collected their data. We learned how and when income flowed in and how and when it was spent.

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