Money management is an essential life skill every child should get. Knowledge of earning, spending decisions, and saving choices are crucial. The concepts shape kids' career choices and financial security.
Financial literacy starts with managing one's own money. Even pre-school children can handle a budget with help from a trained professional. As part of our mission, WoS has allocated funds to support financial education in Syria. We are looking to compensate for the economic crisis caused by school dropouts. The program expands to Lebanon, Turkey, and Jordan, which host around 90% of Syrian refugees. We aim at raising financially stable adults. The training will help them thrive in the job market. We provide them the tools they need to achieve financial independence.
Personal finance is a matter of planning. Educators use the bigger target as a reminder to encourage a child to save their money for a more significant future goal. Another technique is dividing personal savings into categories. It has a proven long-term benefit on one's spending habits. Two categories (spend and save) are enough to form balanced habits at an early stage. WoS educators and volunteers provided local teachers with training and activity sets to facilitate learning. Local surveys in refugee schools reveal misconceptions related to money. WoS educational programs identify and break stereotypes associated with earning and spending.
Financial literacy involves information on how money works. In environments affected by unemployment and poverty, it is challenging for children to observe how money works. For that purpose, they do more research and presentations on the circuit of capital. Cultural knowledge about official currencies in different countries adds to the course value. Refugees who live outside Syria find the topic helpful in adapting to their new medium.
The main goal of financial education is to teach money responsibility. With enough training, children develop the habit of keeping a savings account. We invest in children's education to help them become independent adults. They learn to make calculated decisions and pursue financial independence.
Money management school subjects make children accountable for every bill they spent. The economic crisis in their area should not rob Syrian children of their right to education. As a result of our joint efforts, beneficiaries will make more responsible choices. As grown-ups, they will be more aware of the importance of saving money. We want to thank the partners that support our initiative. Special thanks to the teachers who risk their safety for a noble cause.