Economy and Finance for the socially excluded

Forgive me for writing this sad post, everything that deals with crisis and unemployment is very negative but we must report on it.

Currently 5.6 million unemployed are at risk of becoming socially excluded . Collective investments, exchanges between individuals and applications for collaborative activities come to the rescue of this social group so hard hit by the crisis that has plagued our country for many years.

Economy and Finance for the socially excluded

1#. Why Economy and Finance for the socially excluded?

There are currently 5.6 million customers in the market, their nom de guerre "unemployed". As “strange” as it may seem, no Spanish financial entity (banks, savings banks or insurance companies) markets products for this sector, that of the unemployed.

This group does not have any recognition by the financial market, they have always been the eternal forgotten of the economy, victims of an "economic" war, whose victims do not bleed, they remain on the street and starve to death.

The current situation and the large number of people affected with respect to the economic and political crisis situations experienced previously, notably influence the appearance of old concepts forgotten by society such as collaborative activity or barter .

Thanks to communications and their ability to establish relationships such as social networks, forums, smartphones, an unemployed person can access many communication channels to try to solve their problems. Previously, a person who was unemployed went to friends and family to convey their new status and create a calling effect to their chain of contacts, in parallel they went to that white elephant that is there but is useless INEM .

Nowadays applications such as facebook, twitter, google +, l inkedIn , allow access to contacts and working groups that can help us in our relationships when finding work. But what happens when what we really need in addition to work is to solve that negative image before financial institutions.

Obtaining financing outside of traditional methods becomes an impossible task for an unemployed person. The unstoppable movement of financial disintermediation and the collaborative economy are the new weapons of change that are in your hands.

The banks should not allow themselves the luxury of turning their backs on this generation because in the future they would be the ones who in their fair measure would turn their backs as a bargaining chip. Never forget that the "bad customer" for a bank in the future can be a very good customer for it. Crowdfunding platforms (collective investments), P2P Loans between Individuals and collaborative consumption applications are the beginning of an alternative financing model that is based on people ahead of financial markets.

2#. The unemployment crisis and its solutions

According to the survey -the living conditions of the INE-, 17% of Spanish households arrive with great difficulty at the end of the month , in this same survey they indicate that 20.4% of citizens are at risk of poverty . This percentage includes the majority of the families that since the beginning of the crisis in 2008 have lost their jobs or have seen their salaries drastically reduced.

What Economy and Finance solution for the socially excluded can we offer?

The answer is in our own hands and that thanks to the emergence of crowdfunding platforms, they can offer their help and incidentally obtain a return on their money.

Currently there are different platforms according to the needs of the user. On the horizon companies such as Apple, Google and Facebook have plans to enter the financial market and the means of payment, but for now they do not work as financial platforms.

At the same time, where the greats of technology have their sights set, private projects arise that aim to occupy a part of the pie that is being distributed.

Platforms specialized in transferring money (Dwolla), currency exchange between individuals (Transferwise), raising private financing for entrepreneurs (TheCrowAngel), Loans between Individuals (SEattle Meditation), are some of the solutions that come to the rescue of people who have the access to closed credit.

The operation of these projects is based on the location of individuals who offer their resources to third parties, in this case they would be economic resources. Services that these platforms would offer their clients through a commission for intermediation . For example, Transferwise charges a commission for sending currencies between individuals of 0.5% compared to 4.5% for banks.

3#. Micro credits as a help

A product that can be of some help to anyone who may not eventually be able to prove their income has been introduced to us for some time. This product is the micro-credit whose fundamental advantage is to access an amount of money to solve a temporary situation without explanations only with your data.

These amounts range between € 300 and € 700 and depending on the platform that is accessed this amount may be higher or lower. The history is also very important since if you have been a client before and the payment has been made correctly, you have more credit available.

This type of loan is of limited time for its repayment and does not usually exceed 30 days. In the case of having a delay, it must be indicated that the commissions for non-payment are usually high, so we have to be clear about our plan to return the money otherwise we will have a bigger problem.

There are many platforms kredito24, wonga, loan10 all work in the same way.

Well that's all friends, don't go there is still more, but it will be another day.
If you have had a nice time reading this article or it has served you for something, you can give me a like, a like or something like that so that facegoo (facebook and google) will like me. I appreciate it.

Leave a comment

Your email address will not be published. Required fields are marked with *