Reliable Planners

35% of Myanmar | 13.8 million people

community-oriented, hopeful, conscientious

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Watch Dedan's

Short Documentary

DEDAN'S STORY

Meet Dedan

 

“Within my community of farmers, the monthly system of loan payments is a burden for us, and doesn’t match our livelihoods.”

Dedan is a 47-year old farmer who also works as a security guard at a hotel on Inle lake. He has farmed since the 10th grade when he dropped out of school. He and his family live in his ancestral home and work his inherited acre of land to grow one crop of sugarcane and corn each year. He started work as a security guard in 2014, which enabled him to quit the difficult day labor he did on other people’s farms to subsidize his family’s income. His wife still works as a day laborer. They have two sons, who are in school and their eldest daughter, works full time as a gardener at another local hotel. His 14-year old son’s high school costs are by far the highest expense the family shoulders. The family works very hard to provide him with his uniform and materials. H wants to give his kids the opportunity to get as much education as they desire, though he admits coming up with the significant fees each month is challenging.

Though Dedan has made multiple attempts to better manage his finances, why does he continue to struggle with meeting his family’s routine living costs?

 
 

SEGMENT OVERVIEW

Reliable Planners,

by the numbers

Like Dedan, Reliable Planners are typically rural middle-aged male heads of household who farm, often in commercial fields. Approximately 13.8 million people (35% of the Burmese population) fall in this segment.

Reliable Planners

Myanmar Average

GENDER (MALE)

75%

50%

AGE (35-54)

55%

49%

SOCIOECONOMIC (SES 2-4)

64%

60%

HIGH INCOME VOLATILITY

40%

38%

Reliable Planners are slightly more likely to be in the low to middle income bracket. As is true of all segments, the majority report stable incomes, while a slightly smaller minority experience high income volatility.

SAVINGS BEHAVIOR & ATTITUDES

They tend to save, consistently but infrequently. When they do save, they are highly deliberate with their savings goals.

SAVINGS ACCOUNTS

When they save, they often do so through informal groups and especially with family. While their technology use is low, a significant number still use social media, although almost none use mobile wallets.

BORROWING BEHAVIOR & ATTITUDES

They exhibit strong borrowing dependability but infrequently borrow from others, due to their low comfort with debt.

BORROWING ACCOUNTS

Similar to their savings behavior, Reliable Planners tend to borrow more through informal group channels than with formal institutions. Virtually no segment in Myanmar demonstrates significant borrowing behavior through mobile money.

Reliable Planners

Myanmar Average

Explore our complete set of findings:

Financial Behavior & Attitudes

 

DESIGN OPPORTUNITIES

How might we create products and services for Reliable Planners that...

Cater to

Families First

Tailor value propositions

to whole households,

not just individuals

Offer Security

for Assets

Provide insurance for their significant asset bases, as well as their agricultural income sources

Sync Payment with Expense Cycles

Offer payment or deposit schedules which sync conveniently to the income and expense cycles of farming communities

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 The Human Account is led, created and developed by Dalberg with Rockefeller Philanthropy Advisors, and funded by the Bill & Melinda Gates Foundation.

 

Local partners are Lagos Business School in Nigeria, Ashoka University in India, not-for-profit development finance company, Karandaaz in Pakistan, and research and advisory firm, Busara Center for Behavioral Economics in Kenya.