April 27, 2012 | 8:00 AM
Take a look at our pick of a great project held during April’s Month of Microfinance:
The Two Dollar Challenge
Practitioners and enthusiasts alike celebrated the Month of Microfinance across the country. Our pick: the Two Dollar Challenge. During this week-long event students pledge to live on $2 per day.
Why $2? Many development experts have long considered $2 per day, the total amount available for the poor across the globe. For seven day participants agree to restrict their spending to just $2 per day. This budget includes costs for food, shelter, hygiene, transportation, medication, communication and every other necessity.
We chose to highlight this effort during Microfinance month because we know how difficult it is for average Americans to understand the challenges faced by our borrowers whose families live on less than $25,000. Attempting to cover all your needs on $2 a day reminds us of the daily struggles that face our clients and why income generation, savings and financial education for poorest of the poor in the United States is so vital. We salute all those who participated in The Two Dollar Challenge and look forward to involving all of our supporters in this effort next year!
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