“I don’t want to plan and save because it is not in my culture – We are generous and planning makes me feel selfish.” “I give when I am asked. I can’t plan it.” Planning is probably the most essential skill to manage money. Money is limited and our incomes hardly ever coincide with our…
You have run a financial education programme with families and a few months later, you interview them to find out what impact it may have had. The interviewees recall the workshop, but most of them don’t do a budget; some have talked to their spouses about what they have learned and most are interested in…
Why We Can’t Afford The Rich by Andrew Sayer Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty by Abhijit Banerjee and Esther Duflo (Abdul Latif Jameel Poverty Action Lab – J-PAL) Due Diligence: An Impertinent Inquiry into Microfinance by David Roodman The Political Economy of Microfinance: Financializing Poverty by Philip Mader…
Samira has been saving regularly over the years for her daughter’s education. Her sister, Bopha, calls her one evening – she has a cancer and not enough money to pay for the medical bills. Could Samira help her? Siven has bought new shoes, the cheapest possible. His sister, Samira, congratulates him for being so savvy…
After reading our previous newsletter that stated that children mostly learned about money from their parents, several of you asked what about schools? If parents fail to be role-models in budgeting, prioritising and anticipating expenses, could school ensure equal access to financial education and contribute to breaking a potential cycle of “bad financial habits” passed…
Soon after starting facilitating money management workshops for migrant workers in Hong Kong, parents approached us for workshops for their children. So we designed and ran workshops as after-school activities for several years, until one day, I was asked to run a series of private workshops for a small group of 10 year old children…
Using picture cards and toy banknotes makes budgeting and prioritising easier. For example, give a daily income to each group using toy banknotes, and 5 or 6 cards of usual expenses (various food, clothes, soap) and ask them to choose how to spend their income. Then give them one or two cards representing monthly or yearly commitments (rent,…
As I read an article sent by a friend on how to help our children grow as leaders, I wondered what “leader” means? What would a world full of “leaders” look like? What about inspiring our children to “simply” grow human (and this is not simple), and find a place among other humans, and that not growing…
In a consumer society taking a purchase decision does not stop at the shop and whether to buy or not, and what to buy. It goes well beyond and includes what to do with what we have bought when we don’t need it any longer. And at that later stage it can be even tougher…
Financial education programmes for your clients Your target group is struggling to pay yearly expenses. Every year, most of them borrow from informal lenders to be able to pay for the school fees, and some of them also pull their children out of school. You organise a financial literacy workshop focusing on controlling expenses, reducing…