Nobel Peace Prize, Poverty and Us


Helping HandsI’m surprised that I haven’t seen more pfbloggers write something about this, so I’ll go ahead and give my observations. It was fantastic to see that the Nobel Peace Prize winner (Muhammad Yunus ) this year went to someone who truly made a difference in the lives of people. He did so through giving microloans to the poorest of the poor which allowed them to use their own means to make a better life for themselves. If you aren’t familiar with the work he’s done with Grameen Bank, take a few moments to read this (you’ll be glad you did).

So what does this have to do with us? While the underlying circumstances are obviously completely different, taking the steps to learn about personal finance, debt reduction and how to invest in the future is quite similar. While I know that most of my readers have economic advantages that can’t be compared to those that Grameen Bank is helping, the goal of self reliance and being able to take care of yourself and family with your work and income are the same foundation.

If you are reading this blog, I assume that it’s because you want to improve your personal finances in some way. That is the first goal, but it is by no means the final goal. Once you learn to get your finances in order, I hope that you are willing to help those that are also seeking out financial help. How you go about doing that is up to your discretion, but it is by giving back what we have learned that makes the world a better place.


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October 19th, 2006
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Comment Number:
1
Written by:
Retireyoung
Posted on:
October 20, 2006 at 12:29 am

I just finished reading, “Confessions of an Economic Hit Man”. I would highly recommend reading it if you get the chance.

Comment Number:
2
Written by:
pfadvice
Posted on:
October 20, 2006 at 12:41 am

Thanks for the tip…have added it to my reading list.

Comment Number:
3
Written by:
mgroves
Posted on:
October 20, 2006 at 7:42 am

I like the idea of microloans and extending credit rather than a handout to help people out of poverty. However, giving a Nobel prize may have been a bit too hasty. Read this article: http://thebookblogger.com/compasspoints/2006/10/good_man_ii.html

Comment Number:
4
Written by:
Amber
Posted on:
October 20, 2006 at 1:44 pm

I stumbled across this organization this week as well, kiva.org they are similar to Prosper in that you bid to be apart of a loan but different in that you don’t earn interest and you’re funding loans to people in developing countries. I thought it was really cool and am considering a small donation when I get more stable.