Your financial health is just as important as your mental and physical health. Financial health doesn’t just mean being able to spend more money. It also comes with enormous benefits: Lower stress levels, better decision making and increased happiness. But not everyone has the same access to these life-changing qualities.


Up to 77% of people experience financial stress and that’s generally among people that are supported by mainstream finance. For billions of other people whose needs are not being met, financial stress is yet another burden to bear every day. 


There are many factors that impact on financial health around the world, but here are some of the most prominent obstacles to financial support for those that need it most.


Unequal development


In developing countries there is often no nationwide financial infrastructure. This leaves people in rural areas without access to any kind of financial support and few options to grow their wealth. Even when there is access, traditional banks enjoy a monopoly and don’t give customers the services they need. 


The LGBTQIA community is being left behind


Members of the LGBTQIA community face unique challenges to their financial health. For many people, access to financial services is a given. In many societies around the world, this basic right is denied to LGBTQIA people. 


Maintaining financial health requires support, both from family and by inclusion in the wider financial world. For this reason LGBTQIA people often have higher debts, with nearly half reporting that they struggle to maintain significant savings


Workplace discrimination also has a serious impact on LGBTQIA financial health. 37 percent of LGBTQIA people said they experience difficulty finding work, while a further 42 percent said they worry about job security. Many employed LGBTQIA people still feel they have to hide their identity to keep their jobs. 


LGBTQIA also earn significantly less than heterosexual workers. Gay men earn 46% less and lesbian women 12 percent. 15% of transgender people earn less than €10,000. 



Members of the LGBTQIA community usually face higher costs of living, making it harder still to maintain and grow financial health. LGBTQIA support tends to be higher in cosmopolitan cities. This means that everything from rent to retirement becomes much more expensive. 


Health and family planning also impact on LGBTQIA financial health. LGBTQIA people can be excluded from healthcare coverage and need to cover the cost from their savings. For same-sex couples that want to have children, the medical and legal fees for family planning and adoption are often significantly higher than heterosexual couples. 


Traditional banking can’t support international workers


There are over 164 million migrant workers worldwide, many of whom are from struggling economic backgrounds. Traditional financial networks not only fail to support these groups but strip them of their hard-earned wages through middlemen and high transaction fees. Bitcoin offers a cheap and easy way to send money across international borders as migrant workers pay less in fees and the funds get to their families in seconds. It’s a win-win situation.


 Bitcoin remittances are growing exponentially in developing regions. Latin America recorded over $3 billion in total remittances in 2020, while transactions in Africa grew to almost $1.5 billion. In El Salvador, a small country in Central America, Bitcoin remittances quadrupled in the last year. El Salvador recently became the first country to accept Bitcoin as legal tender, alongside the U.S. dollar. This innovation will not only help El Salvador’s economy but also give its citizens the option to protect their financial health through Bitcoin’s international network.  


While financial inclusion is one step closer for people around the world, we believe technology can play a transformational role in improving people’s financial health. That’s why Nuri’s core mission is to make finance easy and straightforward for everyone. No ifs. No Buts. 


At Nuri, we think that not having to worry about money is an important aspect of living a happier, healthier life. Happier people make better decisions. Better decisions help you build a better financial future. That’s why from learning about finance to becoming an investor, Nuri gives you everything you need to grow your money, all in one place.