Abstract

FLECHAS BRICENO, Gonzalo Alberto  and  HIGUERA TORRES2, Gabriela. THE EXPERIENCE OF THE USE OF MONEY IN LOW-INCOME PEOPLE IN BOGOTÁ, NOVEMBER 2019. Tend. [online]. 2021, vol.22, n.2, pp.157-181.  Epub Aug 09, 2021. ISSN 0124-8693.  https://doi.org/10.22267/rtend.212202.172.

This article explores the experience of the use of money in low-income people in Bogota, understanding the levels of banking that this population has and the importance of financial education in the role of the economy and the market. In Colombia, few institutions and studies have reviewed the experience of money use and its relationship to banking and financial inclusion, especially among low-income people. Therefore, this article explores the following conjecture: until there is a judicious inquiry that qualitatively describes the motivations and contexts of low-income people in their daily realities and needs in the face of the supply of financial products and services, there will be no adequate information and sufficient to enable government and private financial sector entities to build effective and relevant strategies to effectively bankrupt this population. Through in-depth interviews, these motivations and decisions are explored, demonstrating with this research that adequate financial education from childhood, as well as financial inclusion policies appropriate to this type of population based on a thorough knowledge of their daily actions, context and lifestyle will lead to the implementation of better strategies.

JEL: D9; G3; G4; G5; G51

Keywords : banking; low-income people; financial education; financial inclusion..

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