Youth for Democracy took another successful step towards financial inclusion. Arth’Aware was a financial literacy program for the youth is from where we started. Now the second step was Arth’Sakshar, Me! financial literacy of women, especially from the bottom of the pyramid.
Families from the bottom of the pyramid are the ones who are most susceptible to economic uncertainties but their vulnerability can be reduced to a great extent if they are able to make use of the formal financial system. It is not that these populations are completely unaware of this system, but we observed that they are not able to make the greatest use the facilities offered by the financial system. Hence the aim of the session was to make people aware of how and why to use what they have known so that they can enjoy economic freedom.
The session was focused on how to balance income and expenditure, what are the ways to improve on savings, effects of inflation and role of interest rates, the role of formal financial institutions, the importance of insurance, how to avoid debt trap, and how to gain sound economic health.
The program was a success with a response from 62 ladies from around Goregaon area. The program ended with a doubt solving session for the participants with the help of 26 volunteers.
The next step of the campaign is to visit ‘Seva Vastis’ and guide more people in a more customized way to help them develop a solid secondary source of earning.
Our journey for financial literacy is going to continue and Team YFD expects the same active participation from its volunteers so that we get better and better with every step. We are eager to welcome new volunteers.
Remember, together we can!