What is *Portfolios of the Poor* by Daryl Collins about?

*Portfolios of the Poor* examines how households in Bangladesh, India, and South Africa survive on less than $2 a day using innovative financial strategies. Through yearlong "financial diaries," the authors reveal how the poor leverage informal networks, savings clubs, and microfinance to manage cash flow, emergencies, and long-term needs. The book argues for redesigning financial tools to better serve low-income communities.

Who should read *Portfolios of the Poor*?

This book is essential for economists, policymakers, microfinance professionals, and anyone interested in poverty alleviation. It offers actionable insights for institutions aiming to improve financial inclusion and provides a nuanced understanding of how marginalized populations navigate economic instability.

Is *Portfolios of the Poor* worth reading?

Yes—it combines rigorous research with compelling narratives to challenge misconceptions about poverty. Its findings on informal financial systems and recommendations for scalable solutions make it a critical resource for development practitioners and academics.

What are the key concepts in *Portfolios of the Poor*?

- **Financial diaries**: Detailed records tracking income, expenses, and savings strategies of poor households. - **Cash-flow management**: How the poor use small, frequent transactions to balance irregular incomes. - **Informal financial tools**: Savings clubs, kinship loans, and flexible microcredit models.

How does *Portfolios of the Poor* critique microfinance institutions?

The authors praise microfinance for expanding access but criticize its rigid loan structures. They advocate for products that accommodate small, irregular deposits and emergencies—such as hybrid savings-credit accounts—to better align with the poor’s financial realities.

What research methodology does *Portfolios of the Poor* use?

The book analyzes data from "financial diaries" collected over a year in three countries. Researchers conducted repeated interviews to map income fluctuations, borrowing practices, and coping mechanisms during crises, providing a granular view of financial decision-making.

How does *Portfolios of the Poor* redefine poverty?

It challenges the stereotype of the poor as financially unsophisticated, showing they employ complex strategies to stretch meager incomes. Poverty is framed as a liquidity management problem, not just a lack of resources.

What policy recommendations does the book propose?

- Develop flexible savings products for unpredictable incomes. - Expand access to emergency loans and insurance. - Integrate informal financial networks into formal banking systems.

最底辺のポートフォリオ

1日2ドルで暮らす世界の貧困層の実態

ダリル・コリンズ

3.95(1163 Reviews)

『最底辺のポートフォリオ』の概要

世界で最も貧しい人々が、いかに驚くべき創意工夫で家計をやりくりしているかをご覧ください。『最底辺のポートフォリオ（Portfolios of the Poor）』は、日給2ドル以下で暮らす人々の洗練された資金管理戦略を明らかにすることで、開発経済学に革命を起こしました。なぜ彼らは、多くのアメリカの中産階級よりも効果的に貯蓄ができるのでしょうか？その答えは、私たちが貧困に対して抱いていたあらゆる既成概念を覆します。

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第1章

Beyond Survival: How the World's Poorest Manage Their Money

When we think of extreme poverty-living on less than two dollars a day-we often imagine people scraping by meal to meal with no financial strategy. Yet the reality is strikingly different. In Bangladesh, a couple earning just $70 per month maintains a sophisticated portfolio of six different financial instruments. In South Africa, an elderly grandmother on a government pension saves one-third of her income through informal savings clubs. These aren't anomalies but common patterns revealed in "Portfolios of the Poor," a groundbreaking study that tracked the financial lives of 250+ households across three continents through bi-weekly interviews for a full year. The book shattered conventional wisdom about poverty when published in 2009, influencing everyone from Bill Gates to development economists worldwide. Its revolutionary "financial diaries" methodology revealed that the poorest people on earth are, in fact, some of the most active and sophisticated money managers-not because they want to be, but because they have to be.

第2章

The Triple Whammy: Small, Irregular, Unpredictable Incomes

Imagine receiving your paycheck not just in a smaller amount, but at unpredictable intervals, sometimes not at all. This "triple whammy" defines financial life for the world's poorest: incomes that are not just low but irregular and unpredictable, combined with inadequate financial tools to manage these fluctuations. This uncertainty creates a constant state of financial stress that impacts every aspect of daily life. Take Subir and Mumtaz in Dhaka, Bangladesh. Their family of seven survives on $1.90-$3.15 per day through multiple income sources: Subir drives a rickshaw, their teenage son works in a factory, another son collects rags, and Mumtaz works as a maid. None of these jobs provides consistent income. When Subir can't find passengers or falls ill, the family's income plummets. During monsoon season, their income can drop by 60% as fewer people venture out, while medical emergencies can wipe out several weeks of earnings. This pattern repeats across continents. In Delhi, brothers Somnath and Jainath, garment factory workers hired through brokers, experienced extreme income fluctuations. Their combined monthly wages varied between $53-85 and disappeared completely for four months when orders declined, preventing them from sending money home to their rural family. They resorted to borrowing from local moneylenders at 10% monthly interest just to cover basic needs. Even "permanent" jobs prove unstable. In Delhi, half of wage earners lost jobs during the study year, with severance pay being rare or nonexistent. In rural areas, small farmers face extreme unreliability, recovering only 25-30% of expected harvests during bad years due to disadvantaged irrigation access and inability to finance timely farm inputs. A single failed crop can push families into debt for several seasons. The financial diaries revealed that virtually no households relied on single, steady income streams. In Bangladesh, only 2 of 42 households derived most income from permanent employment. Most patched together income from multiple sources-wage labor, self-employment, casual work, and small businesses. A typical family might combine seasonal agricultural work, street vending, domestic service, and occasional construction work. Child labor remained common in South Asia, with about 19% of households having working children under 15, while virtually nonexistent in South Africa. These children often sacrifice education to contribute to family survival. This irregularity and unpredictability create serious cash-flow management challenges that go far beyond what people with steady incomes can imagine. For the poor, financial management isn't about optimizing returns but about basic survival through constant juggling of resources. They must make daily decisions about which bills to pay, which meals to skip, and which school fees to postpone. The stress of this constant financial juggling affects physical health, mental wellbeing, and long-term economic mobility, creating a cycle that's extremely difficult to break without external intervention or structural changes.

聴きながら、すべての言葉を目で追えます

『最底辺のポートフォリオ』の一語一語が音声に合わせてリアルタイムでハイライトされ、自然に読み進められます。

第3章

Complex Financial Lives: The Art of Money Management

Contrary to common assumptions that the poor live hand-to-mouth, the financial diaries revealed remarkably complex and sophisticated financial portfolios. Every household, even those living on less than $2 per day, actively managed both savings and debt simultaneously. None of the studied households used fewer than four financial instruments, with averages ranging from eight to ten different types per household, including informal savings groups, money guards, reciprocal lending arrangements, and formal microfinance products. Consider Hamid and Khadeja from Bangladesh, whose story illustrates this complexity. Living on roughly $70 per month ($0.78 per person per day), they maintain reserves across six different instruments totaling over $150 - from cash kept at home to money sent to relatives and life insurance policies. They also manage multiple liabilities, including a $153 microfinance loan and various interest-free debts from neighbors and family members. Their annual financial turnover of $965 exceeds their total income of $840, meaning each dollar earned undergoes $1.15 of intermediation through various financial instruments. This sophisticated financial juggling allows them to handle emergencies, seasonal income fluctuations, and planned expenses like school fees. This "cash flow intensity" is a consistent pattern across all countries studied, from South Africa to India. Households continuously "push" (deposit, lend, repay) and "pull" (withdraw, borrow, accept) money through various financial tools at high volumes relative to their incomes. Counterintuitively, poorer households often have higher financial turnover relative to income than wealthier ones, demonstrating that lower incomes require more rather than less active financial management. For instance, a family earning $2 per day might engage in dozens of small financial transactions monthly to ensure basic needs are met. Most transactions occur with informal partners rather than formal institutions, creating complex webs of financial relationships. Contrary to stereotypes about predatory moneylenders, the most frequent partners are friends or relatives offering interest-free loans. Subir's case exemplifies this pattern - he borrowed five small amounts (under $4 each) from neighbors and colleagues in just two months, while his wife borrowed once from her sister. These small, quickly repaid loans ensured the family could eat daily and maintain social bonds that serve as financial safety nets. Small-scale savings form the other core element of daily money management, with diverse approaches including saving at home, with savings groups, or through informal deposit collectors. Every household attempted to save, often simultaneously holding small savings while taking loans. This seemingly contradictory behavior reflects how poor households maximize access to multiple financial tools rather than choosing between alternatives. For example, a household might save with a local savings group while maintaining a microfinance loan, using each tool for different purposes. The informal financial tools they use are typically convenient (nearby) and flexible (without strict terms), qualities some microfinance providers in Bangladesh have recognized and attempted to incorporate into their services. However, these informal arrangements suffer from three key limitations: unreliability (partners may lack cash when needed), lack of privacy (causing social discomfort in tight-knit communities), and lack of transparency (leading to unexpected terms or fraud). Despite these drawbacks, the poor demonstrate remarkable financial acumen in managing complex portfolios of formal and informal financial instruments to meet their daily needs and long-term goals.

第4章

When Risk Strikes: Health Crises and Financial Catastrophes

For poor households, risk isn't an abstract concept but a daily reality that can devastate families within days. When Jaleela in Bangladesh fell ill with dysentery alongside her baby in 1974, her husband had to pawn her marriage jewelry - their only significant asset - to pay for treatment. Years later, when her husband fell ill and couldn't work, the family went hungry for three days until a neighbor helped, highlighting how quickly health issues can spiral into broader family crises. The diaries documented 167 financial emergencies during the research year, with health issues dominating in Bangladesh and India, accounting for nearly 70% of all emergencies. In South Africa, expensive funerals were the primary financial emergency due to strict social conventions requiring elaborate ceremonies and rising AIDS-related deaths. A typical funeral could cost up to six months of family income, forcing many into debt. Unlike people in wealthy countries with access to formal insurance, few diary households had insurance despite facing more numerous and severe risks with potentially devastating consequences. Research shows less than 6% of extremely poor people globally have health insurance, and even fewer have access to life or disability coverage. While economists have extensively studied "village insurance" where community members help each other during crises, the diaries revealed that households primarily rely on self-insurance rather than community-wide support. This self-reliance often means depleting savings, selling assets, or borrowing at high interest rates. Health emergencies rapidly transform into financial crises, creating a devastating domino effect. In Bangladesh, Mahenoor's family's story illustrates this trajectory perfectly. After her husband Salil's throat cancer diagnosis, they first sold their rickshaws - their primary source of income. As treatment costs mounted, they sold their small plot of land, their last significant asset. Despite these sacrifices, Salil died anyway, leaving his widow and children not only grieving but assetless and deeply indebted to multiple lenders. Without insurance, poor people frequently delay seeking proper treatment until conditions worsen dramatically, creating a costly cycle. Feizal's case demonstrates this common pattern - after fracturing his thigh bone, he first visited inexpensive traditional doctors, spending $33 over several months with no improvement. Only when his father intervened did he receive proper medical care, by which time the total costs had ballooned to over $500, including treatment expenses plus eight months of lost income - far exceeding what early intervention would have cost. When emergencies strike, households must cobble together funds from multiple sources, even with partial insurance coverage. In South Africa, funeral expenses require particularly complex financing strategies. When Xoliswa's mother died, her funeral insurance plan covered only 45% of the $2,500 costs. Relatives contributed 49% through cash and in-kind donations, while the remainder came from savings clubs and high-interest moneylenders. This patchwork approach to financing emergencies often leaves families with long-term debt burdens that take years to resolve. The research also revealed that women often bear the heaviest burden during health crises, both as caregivers and financial managers. They frequently sacrifice their own health needs to prioritize other family members and are more likely to take on additional work or high-interest loans to cover emergency expenses.

『最底辺のポートフォリオ』をもっと深く楽しむ

毎日の新しい気づきを10万件以上のレッスンから
言葉をハイライトして音声と同期
ライブラリを保存して、どの端末からでも利用

第5章

Building Blocks: Creating Usefully Large Sums

Poor households, like their wealthier counterparts, face significant financial challenges beyond daily survival-establishing homes, educating children, seizing opportunities, and preparing for old age. While the wealthy use mortgages, education plans and pensions, poor households must assemble large sums through piecemeal strategies. Contrary to expectations, households living on minimal incomes demonstrate remarkable ability to save substantial portions of their earnings. Nomsa, a 77-year-old South African grandmother supporting four grandchildren on a government grant of $115 monthly, manages to save $40 (about one-third of her income) in informal savings clubs each month. The researchers identified 298 "usefully large sums" (amounts exceeding one month's household income created through a single financial instrument) totaling $80,857 across all households. In India and Bangladesh, typical households extracted lump sums averaging around three months' income. Surprisingly, poorer households often accumulated proportionally larger sums relative to their incomes than their wealthier neighbors. These lump sums serve three primary purposes: life cycle needs (like weddings and funerals), emergencies, and opportunities (particularly investments in land and buildings). In India, weddings dominated these expenses-for rural Indian households with a marrying child, wedding expenses consumed an astonishing 56% of total annual spending. Saving and borrowing share a surprising similarity in practice-both involve steady, incremental pay-ins. The difference lies primarily in when the large sum is received: at the beginning with loans ("accelerators") or at the end through saving ("accumulators"). Poor households strategically use both approaches to assemble the lump sums they need. Counterintuitively, some diarists deliberately chose high-interest loans even when they had savings available. Seema from Vijayawada borrowed $20 at 15% monthly interest despite having $55 in savings, explaining that the interest pressure would ensure quick repayment, whereas rebuilding withdrawn savings would take much longer. Beyond simple saving-up clubs, many households participated in ROSCAs (Rotating Savings and Credit Associations) where members contribute regularly and take turns receiving the full pot, or ASCAs (Accumulating Savings and Credit Associations) that function more like credit unions, lending accumulated savings to members or non-members while charging interest. Despite the impressive array of savings and borrowing mechanisms available to poor households, these tools remain imperfect. The informal systems have significant shortcomings, particularly in reliability, flexibility, and term length. Most informal saving devices are intentionally time-bound, with shorter terms generally working better. This short lifespan provides regular health checks on the device but limits long-term accumulation.

第6章

The Price of Money: Understanding Interest Rates Differently

In 2007, Mexican microfinance bank Banco Compartamos completed a successful public offering, serving over one million low-income women customers with interest rates exceeding 100 percent annually. While some celebrated this commercial success in banking for the poor, critics like Muhammad Yunus were outraged by the high rates. The financial diaries show that pricing of financial services for the poor is complex and often misunderstood. For the poor, interest is rarely compounded; sometimes it remains a flat fee regardless of repayment timing. In South Africa, moneylenders typically charge 30 percent monthly interest, which would translate to an effective APR of 2,230 percent if compounded-but they rarely compound interest. Analyzing 57 South African moneylender loans revealed significant differences between stated and actual interest rates. While the average stated rate was 30 percent monthly, the internal rate of return (IRR) varied considerably based on loan duration. For very short-term loans (a few days), the monthly IRR could reach nearly 90 percent because borrowers paid a full month's interest regardless of duration. However, for loans held longer than a month, the IRR dropped dramatically-to 17 percent at one month and 8.3 percent at three months. Surprisingly, 33 of 57 loans were repaid before the month ended, despite this raising the effective interest rate. This reflects the priority poor households place on cash-flow management rather than interest rate optimization. With average loans of just $35 (less than 10% of monthly income), maintaining creditworthiness for future borrowing needs takes precedence over minimizing interest costs. Moneylenders are often community members themselves, making loan forgiveness and rescheduling more common than outsiders might expect. In Bangladesh and India, stated interest was paid in full in less than half of all private interest-bearing loans, with interest discounted or forgiven in a third or more cases. Lenders often state high initial rates as both deterrent and insurance-if they collect high interest for even a few months before renegotiating, they may still earn a positive return overall, similar to how microfinance institutions charge upfront fees to reduce risk.

聴きながら、すべての言葉を目で追えます

『最底辺のポートフォリオ』の一語一語が音声に合わせてリアルタイムでハイライトされ、自然に読み進められます。

第7章

Reimagining Microfinance: The Grameen II Revolution

In the late 1990s, Bangladesh's Grameen Bank faced a crisis when loan repayment rates fell from their advertised 98 percent to below 75 percent in some areas, worsened by a devastating 1998 flood. The bank responded with a major rethink of its approach, launching "Grameen II" in 2001. Grameen II made two major changes. First, it addressed lending rigidity by introducing a range of loan terms (from three months to three years) instead of the single one-year term. Loans could be topped up before being fully repaid, and struggling borrowers could reschedule by extending terms. Grameen II also removed the requirement for continuous borrowing and eliminated group responsibility for repaying each other's loans. Second, Grameen II expanded product offerings beyond lending, particularly for savings. The original compulsory group savings that couldn't be withdrawn for 10 years was replaced with two new products: a personal passbook savings account allowing deposits and withdrawals anytime, and a Grameen Pension Savings (GPS) commitment plan offering good interest rates for regular monthly deposits over 5-10 years. These innovations helped poor households manage daily cash flow and accumulate large sums securely. Kapila Barua, a diarist whose husband earned about $1.50 on days he found farm labor, maintained a modest balance (around $18) but used her account actively. She typically deposited $4-10 quarterly and made strategic withdrawals for various purposes: food shortfalls, school costs, helping fellow members with loan repayments, insurance contributions, gold earrings, handicraft inputs, and medical treatment for her son. Grameen's Pension Savings (GPS) accounts transformed how poor households build financial assets. Unlike informal savings clubs, GPS offers long-term commitment savings with regular deposits starting at $1 monthly for 5-10 year terms. The accounts proved remarkably popular-of 27 diary households with GPS accounts, 20 held more than the minimum required for loan eligibility, and 11 maintained multiple accounts. While Grameen II's primary goal was creating a source of loan capital by mobilizing more savings, it succeeded dramatically-by late 2004, deposits exceeded loans for the first time, and by 2007, clients collectively owned $1.40 in savings for each $1 in loans. Effectively, Grameen transformed from a microenterprise lender into a true retail bank focused on poor households.

第8章

Principles for Better Financial Services

Despite each poor household having unique financial portfolios reflecting their individual circumstances and preferences, the financial diaries reveal common patterns in how the poor manage money. By carefully analyzing these patterns across different countries and contexts, three key opportunities emerge for providers, alongside guiding principles to help them succeed in serving this market effectively. Three significant opportunities exist for microfinance providers to better serve poor households: (1) Helping poor households manage money day-to-day through tools that match their irregular income patterns, (2) Helping them build savings over the long term despite income volatility, and (3) Helping them borrow for all purposes, not just business. Day-to-day cash-flow management requires convenient facilities for small savings deposits as low as a few cents and modest withdrawable loans that can be accessed quickly. Building long-term savings demands contractual products that accommodate regular small deposits while providing incentives to maintain the saving habit. General-purpose loans must be carefully matched to households' actual cash flows rather than restricted to microenterprise, recognizing that poor families often blur the line between business and personal expenses. Four key principles should guide the development and delivery of financial services for the poor: reliability, convenience, flexibility, and structure. Reliability means delivering services exactly as promised - this is critical when most aspects of poor people's lives are unreliable, especially their income streams. For example, ATMs must always have cash, and loan disbursements must happen on schedule. Convenience requires frequent access points, nearby locations, quick transaction times, and private service delivery - poor people cannot afford to spend hours traveling to a bank or waiting in line. Flexibility means reconciling financial services with irregular and unpredictable cash flows, allowing variable deposit amounts from very small to larger sums, and adaptable loan terms that can accommodate seasonal income patterns. Structure provides regularities that promote self-discipline, especially important for long-term commitments like saving for education or old age, but less crucial for day-to-day transactions like buying food. Recent technological and operational developments in microfinance have made these services increasingly feasible and cost-effective to deliver. Bangladesh's microfinance sector demonstrates that convenient money-management accounts, structured savings products, and flexible loans can be delivered profitably to poor households at reasonable rates through dense networks of field officers and mobile banking. Even in sparsely populated areas like rural Kenya, innovations like M-PESA mobile banking and wireless money transfers are reaching remote villages, allowing people to send money to family members, pay bills, and save small amounts - all through basic mobile phones. Similar innovations in India, the Philippines, and other developing countries show how technology can help overcome the traditional barriers of cost and distance in serving poor customers.

『最底辺のポートフォリオ』をもっと深く楽しむ

毎日の新しい気づきを10万件以上のレッスンから
言葉をハイライトして音声と同期
ライブラリを保存して、どの端末からでも利用

第9章

The Hidden Bind of Poverty

Not having enough money is difficult, but not being able to manage what little you have is worse-this is poverty's hidden bind. Without tools to marshal money into the right sums at the right times, minor setbacks become crises and opportunities are missed. While poverty reduction requires economic growth, jobs, and public infrastructure, financial tools are central to poor people's survival strategies. Far from living hand-to-mouth, they actively save, join savings clubs, and maintain complex financial relationships. With better tools-particularly reliable access to day-to-day money management, long-term savings, and general-purpose loans-poor households can maximize the value of each dollar and improve their lives. Microfinance now has the potential to win an unimaginable race-becoming the first high-quality basic service available to the poor universally. Unlike schools and clinics that require substantial public resources and political will, microfinance can deliver reliable, affordable services independently once appropriate legal frameworks exist. The financial diaries reveal that poor households face more fundamental financial challenges than asset-building-managing irregular income to ensure food on the table. Poor households focus intensely on cash-flow management rather than risk-return calculations, resembling start-up companies more than established firms. Unlike wealthier people with access to credit cards and ATMs, the poor patch cash-flow mismatches through small-scale borrowing from friends, neighbors and employers-often at high social and psychological costs. Reliable, reasonably priced financial tools would make an enormous difference, yet helping with cash-flow management has received limited attention in microfinance strategies. For a mass market in financial tools for the poor, services must be reliable, transparent, and flexible-allowing for general-purpose loans rather than strictly business loans, penalty-free grace periods during cash-flow problems, loan "top-ups," emergency loans, and loans secured against common assets like gold or deposits. While improved money-management tools won't solve all problems faced by poor households, they offer promising incremental improvements in an area where poor households already invest significant time and energy. The recognition that poor households are "bankable" has transformed global thinking about poverty and finance. The greatest contribution of microfinance may be bringing reliability to the financial lives of poor households who otherwise face unreliable institutions in all aspects of life.

★★★★★

『最底辺のポートフォリオ』を最後まで読み終えました

100万人以上の学習者に愛用されています

“23日間、毎日使い続けています。今では日課の一部です。”

jayallen

『最底辺のポートフォリオ』の主要テーマ

financial diaries
informal savings mechanisms
cash flow management
microfinance limitations
income volatility

『最底辺のポートフォリオ』の名言

The poorest people are some of the most active and sophisticated money managers.
Inadequate financial tools create a constant state of financial stress.
Child labor remained common in South Asia.
Every household actively managed both savings and debt simultaneously.
Lower incomes require more rather than less active financial management.

『最底辺のポートフォリオ』の登場人物

Daryl CollinsLead author and researcher of the study
Subir and MumtazA couple in Dhaka managing multiple income sources
Somnath and JainathBrothers working as garment factory workers
Hamid and KhadejaA couple managing a complex six-instrument portfolio

著者について

『ポートフォリオ・オブ・ザ・プア：世界で最も貧しい人々は1日2ドルでどう暮らしているか（Portfolios of the Poor: How the World’s Poor Live on $2 a Day）』の共著者であるダリル・コリンズ博士（Dr. Daryl Collins）は、金融包摂と経済的脆弱性における先駆的な経済学者であり、世界的権威です。ニューヨーク大学で博士号を取得し、ロンドン・スクール・オブ・エコノミクス（LSE）で学位を得た彼女の画期的な研究は、低所得世帯がいかにして家計を管理しているかを探求しており、アフリカ、アジア、ラテンアメリカにおける数十年の調査から得られた実世界の洞察と学術的な厳密さを融合させています。

DecodisのCEOであり、BFA Globalの元リーダーとして、彼女は10カ国以上で「金融ダイアリー（Financial Diaries）」調査を主導し、世界銀行やCGAP（貧困層支援扶助グループ）といった機関の政策を再構築してきました。

講演者やアドバイザーとしても引く手あまたのコリンズ氏は、ケープタウン大学での教鞭や、政府、NGO、民間企業との連携を通じて、学術界と実務の橋渡しをしています。貧困への理解に革命をもたらしたと称賛される彼女の代表的著書は、貧困層の日々の財務上の意思決定を追跡した綿密なフィールドワークに基づいています。多言語に翻訳された同書は、開発専門家や経済学者にとって今なお必読の書となっています。

不平等に対するデータ駆動型の解決策を提唱し続けるコリンズ氏の活動は、グローバルな金融システムにおいて疎外された人々の声を増幅させるという彼女の使命を強調しています。

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"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

BeFreedがウェブ上でどのように話題になっているかをもっと見る

コロンビア大学卒業生がサンフランシスコで開発

LOVED BY

1,000,000+ curious minds.

4.7

avg rating

1M+ learners

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

BeFreedがウェブ上でどのように話題になっているかをもっと見る

今すぐ学習の旅を始めよう

第3章

最底辺のポートフォリオ

概要『最底辺のポートフォリオ』の概要

1冊の本。さまざまな聴き方。

Beyond Survival: How the World's Poorest Manage Their Money

The Triple Whammy: Small, Irregular, Unpredictable Incomes

聴きながら、すべての言葉を目で追えます

Complex Financial Lives: The Art of Money Management

When Risk Strikes: Health Crises and Financial Catastrophes

『最底辺のポートフォリオ』をもっと深く楽しむ

Building Blocks: Creating Usefully Large Sums

The Price of Money: Understanding Interest Rates Differently

聴きながら、すべての言葉を目で追えます

Reimagining Microfinance: The Grameen II Revolution

Principles for Better Financial Services

『最底辺のポートフォリオ』をもっと深く楽しむ

The Hidden Bind of Poverty

『最底辺のポートフォリオ』を最後まで読み終えました

『最底辺のポートフォリオ』の主要テーマ

『最底辺のポートフォリオ』の名言

『最底辺のポートフォリオ』の登場人物

著者について

最底辺のポートフォリオの要約をダウンロード

他のユーザーのお気に入り

この本に関するよくある質問

What is Portfolios of the Poor by Daryl Collins about?

Who should read Portfolios of the Poor?

Is Portfolios of the Poor worth reading?

What are the key concepts in Portfolios of the Poor?

もっと見る

1,000,000+ curious minds.

1,000,000+ curious minds.

1冊の本。さまざまな聴き方。

Beyond Survival: How the World's Poorest Manage Their Money

The Triple Whammy: Small, Irregular, Unpredictable Incomes

聴きながら、すべての言葉を目で追えます

Complex Financial Lives: The Art of Money Management

When Risk Strikes: Health Crises and Financial Catastrophes

『最底辺のポートフォリオ』をもっと深く楽しむ

Building Blocks: Creating Usefully Large Sums

The Price of Money: Understanding Interest Rates Differently

聴きながら、すべての言葉を目で追えます

Reimagining Microfinance: The Grameen II Revolution

Principles for Better Financial Services

『最底辺のポートフォリオ』をもっと深く楽しむ

The Hidden Bind of Poverty

『最底辺のポートフォリオ』を最後まで読み終えました

他のユーザーのお気に入り

もっと見る

『最底辺のポートフォリオ』の概要