Financial literacy: A pathway to future success

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Since kindergarten age, children can understand the notion of money and may learn spending their petty cash. Teaching children how to manage their money since early stage will help them develop good habits and have better financial literacy in the future. The financial and budget management skills, however, have not received adequate attention in the current education of Vietnam. 

Luu Ngoc and Quang Vinh are the two remote communes with numerous socio-economic difficulties in Cao Bang province. The majority of residents belong to ethnic minority groups with limited awareness and access to information. In addition, the local people live mainly on farming which is much affected by the weather, thereby facing a great variety of difficulties in their life. 

Mrs. Julie Nguon and her husband, Mr. Alexandre Poutot are the two committed sponsors of ChildFund. After years of working in finance, they understand clearly how significantly the lack of awareness about financial risks can affect the life of children. In early September, 2018, the two sponsors in coordination with ChildFund in Vietnam organised a training on budget management for a group of 9th graders in Quang Vinh – Luu Ngoc Boarding School.

The training was delivered by the two sponsors with 30 students participating

The training was delivered by the two sponsors with 30 students participating

Prior to the training, concepts of budget, expenses and savings were completely unfamiliar to the students when most of them failed to answer the questions on budget management.

After more than one hour of the sharing session, all of the mentioned concepts were fully captured by the students. They gradually got a good grasp of economy, budget management and effective ways to save money through interesting interactive activities.

Familiarising themselves with budget management for the first time, students excitedly participated in activities of the training

Familiarising themselves with budget management for the first time, students excitedly participated in activities of the training 

Through “learning by doing” approach, key contents of the training were well obtained by the students in a stimulating atmosphere.

The sponsors supporting groups of students with balancing their personal budget

The sponsors supporting groups of students with balancing their personal budget

Len, a participant in the training, excitedly shared: “After the training, I learn that the budget consists of incomes and expenses. I’ve also learnt about three types of expenses: fixed, variable and exceptional. What interests me the most is the knowledge of savings. I now know how to prepare myself for emergency cases where exceptional expenses are needed”. 

Len, a participant, sharing about interesting knowledge she learnt from the training

Len, a participant, sharing about interesting knowledge she learnt from the training

Like Len, other participants of the training showed their great enthusiasm when being trained on how to manage their budget, not only as an individual in their household but as an entrepreneur who owns a small business. The knowledge will evidently be of great use for the future business owners.

Being inspired by the eagerness of the students and witnessing the benefits of the training, Mrs. Nguon said: “I would encourage my friends and other sponsors to share their expertise and support ChildFund in equipping children with knowledge and skills that are vital to their life.”

The two sponsors also expressed their ultimate pride in ChildFund’s work: “We were very glad to visit local projects of ChildFund Vietnam and to see how efficient and important your action is for poor communes. We are happy and proud to be part of this endeavor”.

ChildFund Vietnam has been supporting community development programs in six communes of Xuan Noi, Cao Chuong, Quang Han, Quang Vinh, Luu Ngoc and Quoc Toan of Tra Linh district since 2009. ChildFund’s programs focus on education, water and sanitation, sustainable livelihoods, child rights and child protection, food security, mother and child healthcare including HIV prevention. ChildFund also prioritises building resilience for the youth by providing them with opportunities to play sports, to get career and life skill training and supporting them in making decisions in their communities.


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