If we save money today, the money will save us tomorrow. But simply saying it will not help. To create a healthy saving culture and improve financial well-being, officials from RENEW in collaboration with the agriculture ministry are training students in eight districts. It is part of international savings day, which is celebrated every year on 31st October. More than 600 students will be trained.
In Tsirang, 40 commerce students from Damphu Central School attended the training to learn to save and manage money effectively.
“What they normally do is they save money in their purse and wallets. So through this training, we are trying to tell them it is important to save their money in banks and not in their homes. And not only to themselves but we are trying to educate and tell that they need to create awareness to their family and the societies,” said Sonam Chuki, a Trainer from the Project for Rural Development with the Ministry of Agriculture and Forests.
It prepares young people for financial prosperity in the future. For many students, financial literacy is low on their priority list. But that is now changing.
Tirtha Kumari Tiwari, a student of Damphu Central School said he learnt “about saving and what will happen if we don’t start saving. I knew that we need to save money for the future.”
“It seems I have been wasting my pocket money mainly to buy shoes and clothes. I will now save money as much as I can because it will have future economic benefits,” said Lachu Man Adhikari, a student of Damphu Central School.
And the financial sector plays a critical role here to encourage savings. Many say the banks charge relatively higher interest rates for loans and, declare huge profits and salary bonuses to their employees.
Pema Tshewang, Tsirang
