The main difference in the financial planning for the poor families is that they have fewer resources and opportunities. When people are struggling to make ends meet on a day-to-day basis, good money management becomes a daily challenge. While they use many creative ingenuous strategies to manage their money, these often develop through trial and error rather than by design.
Financial education has a role in 'building the capacity of the poor to gain control, become proactive, use information and resources to enhance their economic security and more effectively use financial services'. When better-informed clients become better consumers of financial services, financial institutions benefit.