1 / 15

Financial Education Win-Win for Client s and MFIs

Financial Education Win-Win for Client s and MFIs. What is Financial Education?. Financial education is teaching the knowledge, skills and attitudes required to adopt good money-management practices for earning, spending, saving, borrowing and investing.

cian
Download Presentation

Financial Education Win-Win for Client s and MFIs

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Financial EducationWin-Win for Clients and MFIs

  2. What is Financial Education? Financial education is teaching the knowledge, skills and attitudes required to adopt good money-management practices for earning, spending, saving, borrowing and investing. Participants who receive financial education acquire the information and tools to make better financial choices and work towards their financial goals to enhance their economic well-being.

  3. Why is Financial Education Important for the Poor? • Better understand financial options • Use financial resources more effectively • Build self-esteem and confidence • Shift from reactive to pro-active decisions

  4. Financial Education Objectives Current Behaviors Desired Behaviors

  5. Examples of Behavior Change FINANCIAL EDUCATION PRESENT/CURRENT FUTURE/DESIRED • Savings • Wasteful expenditures • Irregular savings • Savings not linked to goals • Savings • Avoid unnecessary expenditures • Have a savings plan • Save regularly

  6. How was the Financial Education Curriculum Developed? The Partners India – SEWA Bank Philippines – CARD Bank South Africa – Teba Bank Morocco – Al Amana Bolivia – Pro Mujer Poland – The Microfinance Centre

  7. Module Design Process Market Research Module Design Module Pilot Test Module Refinement Generic Module Design Generic Module Test Finalize Generic Module Dissemination TOT

  8. Curriculum: Modules • Budgeting- Use Money Wisely • Debt Mgmt.- Handle with Care • Savings- You Can Do It! • Banking Services- Know Your Options • Financial Negotiations- Communicate with Confidence

  9. Curriculum: Components • Trainers’ Guides • Training of Trainers Manuals • Implementation Guidance • Adaptation Guide

  10. Training Techniques • Small Group Discussions and Activities • Stories • Categorization • Simulation Exercises • Case Study or Situation Analysis • Practice Exercises

  11. Channels of Delivery Volume of Outreach • Campaign • Radio Show • Soap Opera • Classroom Training • Credit and Savings Group-based • Individual Counseling

  12. Challenges • Literacy levels • Adaptation to market segments • Lifecycle position

  13. Current Activities DISSEMINATION • TOT Workshops South/South East Asia Central America Middle East China India Eastern Europe • In-country Training and TA

  14. Current Activities INNOVATIONS • Youth • Remittances • Micro-insurance • Risk management • Consumer Education • Bank Cards

More Related