We all spend money every day,and we have come to know that,women lack some skills or formula that keeps them away from using financial services.My question is what are the formal or informal barriers that keep women form using financial services?

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Hello OriginalJoy! You posted this question several months ago but its relevance requires that it should be answered. Let me put in my two-cents opinion by citing some of the factors that stops women from availing the financial services: 1. Lack of knowledge about financial literacy-women are good when it comes to making money for their family. But are not good in managing the money because they lack education. Financial literacy is not part of the basic curriculum in school. I only learned about financia literacy because i read about it in books and magazines.2. Lack of knowledge about the services of the microfinance and banks and what it could do to them. Banks advertise their services in newspapers and television, which are often not accessible for poor women. 3.Lack of time-visiting microfinance and banks takes time. The requirements of becoming a member are sometimes numerous which discourages women from applying as a member. One of these requirements is employment certificate. Women who are self employed or do not have jobs are often excluded  because they are not employed. 4. Accessability-banks are often located in urban areas and women in rural areas rarely ventures or are less mobile compared to men. These are th reasons I know of why women do not take advantage of the financial services based on my work with a microcredit project some years ago. 

MCL

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