How can the habit of saving be developed in people living on $1.25 per day?

Can people living on $1.25 per day — or less — save money?

Plan International and JPMorgan Chase believe they can. Through their Community Savings Groups project — which Plan and JPMorgan Chase are implementing in the areas affected by Typhoon Haiyan in the Philippines — the international nonprofit and the global financial services firm aim to change people’s mindsets to prove that poverty is no barrier to developing the “habit of saving.”

“There is a lot of behavioral and knowledge transformation and outlook and perspective [in saving money],” Cathy Seco, Plan’s grants manager in the Philippines, told Devex. “[It is in the] realization that no matter how poor you are, if you have the desire and when you look at and assess your circumstances, there is a way for you to save for the future.”