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Access to financial services is one of the most pressing issues of the modern days. In theory, the modern financial system provides a lot of opportunities and financial services, such as bank accounts, savings, credit, investment products, etc, but in reality larger populace of even most countries do not have access even to the very basic financial services. Investment is even worse in terms of accessibility. 

Traditional finance, unfortunately, can do very little to solve this issue. For example, in the United Kingdom, financial inclusivity is one of the main priorities for the House of Commons Treasury Committee, but in its annual reports the committee admits that the existing situation is not really improving. Regulatory and banks interests don’t allow much to be done outside of direct government sponsorship of very limited programs.  Obviously, such programs are only a palliative solution.

In developing countries the situation is even worse. For example, in Egypt, less than half of registered companies actually work with the banks.

Additionally, in developing countries local banks charge much higher interest due to unstable economic output and access to credit is restricted unduly to mitigate any losses on the local financial institutions. Large banks in developed countries are also unavailable for developing countries residents—partly due to local government policies, partly due to banks’ rules.

This is where fintech tries to help.  

Seeing these gaps in the financial services industry, providing wider access to financial services became the focus of the fintech industry.

Proliferation of cryptocurrencies led to development of a whole plethora of projects and full-fledged ecosystems, whose goal was to ensure easy access to financial products. Money transfers, lending platforms, even investment opportunities—blockchain and cryptocurrency made all of it available for everyone.

Don’t envy Jeff Bezos, Warren Buffett and Mark Zuckerberg for their wealth: They may not be much happier than the manager of your nearest In-N-Out Burger.

In-N-Out shatters the restaurant chain mold



That’s the conclusion of a recent study that found $105,000 to be the ideal income for life satisfaction in Northern America. Earnings past that point tended to coincide with a lower levels of happiness and well-being, researchers found.


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The study from Purdue University, published in Nature Human Behavior, draws from the Gallup World Poll of over 1.7 million people that asked individuals to rate their lives from “worst possible” to “best possible” on a scale of 0-10.

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Those ratings were then analyzed alongside reported household incomes to determine an ideal earnings point for every region of the world, what the study calls a “satiation point.”

That point for life satisfaction varies around the world, researchers found, from $35,000 in the Caribbean to $125,000 in New Zealand. Past that, lead author Andrew T. Jebb said, “there’s a certain point where money seems to bring no more benefits to well-being in terms of both feelings and your evaluation.”

In-N-Out managers, then, who the company recently revealed earn about $160,000 per year, make enough to be happy anywhere, the data seems to suggest.

Once enough money is earned to cover basic needs, everyday purchases and loans, people may be driven to increase earnings by comparison to others or a desire for material gains. And that, Jebb said, could prove a tipping point where more money results in a lower well-being.

Gallery: Surprising Things About Tipping You Never Knew (GOBankingRates)

“The small decline puts one’s level of well-being closer to