http://www.economist.com/news/finance-and-economics/21571882-life-edges-americas-financial-mainstream-margin-calls
This article talks about America's financial issues and how 1 in 12 American households, or some 17 million adults, are “unbanked”, meaning they lack a current or savings account. The survey that they discuss in this article also show that one in every five American households is “underbanked”, meaning that they have a bank account but also rely on alternative services—typically, high-cost products such as payday loans, cheque-cashing services, non-bank money orders or pawn shops. Without a formal type of banking, the poor will always have financial problems.
While these statistics are shocking, I'm not necessarily surprised by the lack of saving and formal banking accounts of the adult population. Unfortunately, a lot of people do not have enough knowledge about saving options and how to properly prepare for their future, which often results in collapsing and "underbanking." People rely on other services or individuals to do all the work for them and have no orderly way of maintaining everything.
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