Nicholas D. Kristof, a Pulitzer Prize winning author of the New York Times and co-author of best-selling book Half the Sky, wrote about the ugly secret of GLOBALLY poverty. That is, the poor spend a higher portion of their meager income on alcohol, tobacco, and others. Also, they spend less on their children education, health, and others.
Duh! Mathematically when you make less income, the choices that the poor make or MAGNIFIED.
It is fact and true. And it's universal and does not just apply to the poor in Africa, the Republic of Congo (Nick traveled in the other Congo), my Congo, or the inner city or rural areas of the US.
I think the one of the root causes of this errant spending is lack of a vision of the future. Frankly, I have NOT seen it in rural Congo. But I am sure it happens everyday throughout the world where the poor do not see a chance of breaking the cycle of poverty. They can not see beyond today.
In many situations, the Congolese poor bank and invest in their children's prosperity. It is their living retirement plan or long term health care insurance.
I agree with Nick that women or mothers spending (or savings) habits are better than their men and husbands. Also, I agree that most microfinance plans help the poor (especially women) focus on savings. It forces them to think about the future and develop a vision of the future.
My vision of the future is that the poor develop a vision of a brighter future for themselves, their families, and their communities, and their countries.
Op-Ed Columnist - Moonshine or the Kids? - NYTimes.com.
There’s an ugly secret of global poverty, one rarely acknowledged by aid groups or U.N. reports. It’s a blunt truth that is politically incorrect, heartbreaking, frustrating and ubiquitous:
It’s that if the poorest families spent as much money educating their children as they do on wine, cigarettes and prostitutes, their children’s prospects would be transformed. Much suffering is caused not only by low incomes, but also by shortsighted private spending decisions by heads of households.
That probably sounds sanctimonious, haughty and callous, but it’s been on my mind while traveling through central Africa with a college student on my annual win-a-trip journey. Here in this Congolese village of Mont-Belo, we met a bright fourth grader, Jovali Obamza, who is about to be expelled from school because his family is three months behind in paying fees. (In theory, public school is free in the Congo Republic. In fact, every single school we visited charges fees.)
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