On March 18 and 24, the Enfants du Mekong Phnom Penh team trained 40 Year 1 students. This training is only one part in the 3 year Financial Education Programme that Enfants du Mekong Phnom Penh has started rolling out.
Because the main part of money management is… taking new habits and changing behaviour, it takes time for the students to implement in their daily lives. So instead of a one-off training – which had very limited impact, except on the few students… who already tracked their expenses and planned ahead, we have designed a 5 part programme:
Basic tools are introduced straight away (tracking expenses, using a bank account, budgeting, envelope method…) and reviewed in all the following sessions. The follow up sessions and Year 2 and 4 also focus on how to change behaviour, decisions and values- especially the place of money in our lives and how to deal with family’s money requests.
Year 1 students remembered the tools seen in the first training- but were not sure how to use them, especially budgeting and leaving money in their bank accounts as soon as they get their monthly sponsorship . The follow-up session proved very useful, especially before Khmer New Year- where spending occasions are plenty!