Is a bank account worthwhile for poor people

by Lisa H. Warren

Having a bank account is always worthwhile. The question for low-income individuals is whether it is worth the financial risk. Many people who live on low and/or fixed incomes find that it is. Having a personal bank a...read more

by Brian Cote

It is absolutely worthwhile for all people to have a bank account. In fact for people who do earn less than average it is just plain smart to open a free account at a local bank or credit union. When I was just a teenager,...read more

by Pnk Guru

Think you are a poor person. Will you be happy if you are denied the right to open an account in a bank? Do you think it is important to have an account? Will it be beneficial to you? BANK IS SAFE! "Step into other m...read more

by Taye Foster Bradshaw

According to the 2005 U.S. Census Bureau report, there are 37 million Americans identified as poor, up from 35 million in 2002. The Federal poverty definition of poverty is $10,210 for singles, $13,690 for couples, and $1...read more

by Neil Dixon

Are you a low income earner with little or no spare cash each month? Is it worth your time opening a bank account, after all you haven't got anything to put in it have you? The answer as to whether you should open a bank...read more

by John Eastwood

Of course you should have a bank account. Its free, and its the safe way to look after your money. But be careful. Only ever use that bank account as a safe place to store your money. Think of it as an advanced sort of put...read more

by J Grady

In todays society it is hard to get by without a bank account. Most employers prefer to direct deposit, and this is a quicker, easier way to access your funds. It's easier to pay bills if you have a debit/check card....read more

by Simon Wright

Most of us take having a bank account for granted. It is the mechanism through which we are paid by our employer, and enables us to manage our finances. We put money into savings accounts (to earn interest) when we have sp...read more

by David Kramer

A bank account is something the rich and the poor should share in common. Poverty should not be an excuse for avoiding opening a bank account; rather it should be a priority as a step away from poverty. The poor who fail t...read more

by Clacky McSnackins

Regardless of your socioeconomic status, a bank account can be extremely important. While many in the lower classes assume that having a bank account isn't necessary because of their lack of any real funds, this way of th...read more

by Laundry Queen

Especially, if you are poor, you should have a bank account. Growing up around a major city, I have seen many people wander into a Currency Exchange to cash their checks. Currency Exchanges and institutions like them cha...read more

by Bill Hudley

Anyone who is gainfully employed and interested in saving money should have a savings program at a bank or alternative institution. Most poor people have a limited education which, in turn, limits their income and ability ...read more

by Amanda Piper

My family is low income. We have four children and one income, and we barely scrape by. I get a whopping $50 per month in child support for my oldest child, which I found out today hasn't even been paid in five months....read more