For all the innovation over the last three decades of the financial system, we still cannot have mechanisms for the poor to be apart of the banking system. Kiva the micro lending/crowd source model has yet to catch on here in the Inland Empire.
Most of the folks here would rather use alternative banking systems such as payday loans, title loans, pawn shops, etc. to take care of their banking needs. I cannot walk at least two blocks without seeing a payday loan provider. The most popular one in San Bernardino is Speedy Cash. That place is always packed.
I have used alternative banking on occasion to buy food or take care of expenses. For the most part, I would try to use overdrafts in my checking account rather than take out a payday loan because overdraft fees are held at a constant no matter how much you take out.
What I find funny is that I make a decent income, around 32K a year (not including benefits) and still struggle.
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