When any of us decide to borrow money, where do we turn for it? Do we ask our friends or family first, or do we seek the loan from a more traditional source like a bank or take an advance from one of our cards or another source?
The answer to these questions will differ greatly from country to country and depend upon a number of varied factors including our level of financial literacy, the availability (or lack of same) of financial service providers in the marketplace and how culturally acceptable the use of debt is where we live. In advanced economies, we never stop and consider that in many parts of the world there are few or limited options to choose from when seeking credit today.
