Part 7 – Financial Literacy

December 2023

During a discussion on the previous topic of nutrition, I informed the parents about the progress of their children after taking a session with us. I also conducted a home visit to discuss it further with them. The parents seemed very happy and grateful towards us as they noticed positive changes in their children. After the session, the children started to eat all kinds of vegetables and began taking homemade food on their school lunch. Additionally, a significant change in the children was that they encouraged all the family members to have three types of food.

During our session, we talked about financial literacy, as I learned from the situational analysis that children do not have the habit of saving money. So, I wanted to focus on this topic. Before diving into the topic, I asked the children if they had any knowledge about finances. They mentioned that they earn money from different festivals and receive tikka and money from elders. However, they give their money to their parents, and they are unaware of where their parents utilize their money. Some children save their money in their piggy bank, while others waste their money buying junk food, toys, and other things.

After listening to the children, I suggested different ways to save money, such as saving the money that they usually spend on buying lunch. I advised them to stop using their money on junk food and unnecessary toys because it can lead to various health problems. I recommended that they should ask their parents to buy them a piggy bank to start saving their money. However, it’s better to open a bank account to save money and earn interest. They can save a small amount of money regularly and invest it in shares or businesses. They can use their savings to purchase things they need, such as stationery or school bags. They can also buy a chicken and raise it to produce eggs, which they can eat or sell. Lastly, they can use their savings to cover their future education expenses.

As an action plan, the children agreed to start saving their money and ask their parents to open a bank account for them. They also decided to stop wasting their money on unnecessary toys and junk food. I will monitor their progress during the next home visit and talk to their parents as well.