If you happen to randomly ask individuals to elucidate a few of the most simple monetary ideas like loans, financial savings, property and so forth, you’ll find that not lots of people perceive these ideas regardless of their significance in on a regular basis monetary transactions.
To make it much more fascinating, if we ask you to elucidate these monetary phrases to a 5 12 months outdated child, it turns into an actual wrestle.
Low Monetary literacy is a worldwide actuality – In response to Customary & Poor’s Scores Companies World FinLit Survey, supported by the World Financial institution Analysis Group, Nigeria has solely 26% of its grownup inhabitants being Monetary literates, behind different African international locations like Botswana (52%) and South Africa (42%).
Regardless of international locations like Denmark, Sweden and Norway having 71% of their inhabitants financially literate, the worldwide monetary literacy degree is lower than 40%. That is low.
Monetary literacy is just the information and understanding of key monetary abilities and ideas, and the flexibility to place them to make use of in your life and affairs.
People who find themselves financially literate have the flexibility to make knowledgeable monetary decisions concerning saving, investing, borrowing, and extra.
With out an understanding of primary monetary ideas, persons are not nicely outfitted to make selections associated to monetary administration.
Contemplating the low monetary literacy degree amongst Nigerians and globally, FairMoney MicroFinance Financial institution, in step with its imaginative and prescient of closing the monetary inclusion hole, has determined to advertise Monetary Literacy amongst youngsters.
That is strategic to closing the hole, as simplifying monetary ideas for teenagers helps to construct a extra financially literate society from its basis.
Celebrating Youngsters’s Day: Introducing FairMoney Monetary Literacy for Youngsters eBook Collection
To “catch them younger”, and equip youngsters with helpful monetary information early in life, FairMoney is celebrating this 12 months’s youngsters’s day by launching the primary ever, Monetary Literacy for teenagers e book sequence in Nigeria – a compilation of economic phrases and ideas expressed with straightforward to grasp animal tales and illustrations made for teenagers.
This e-book will function academic materials and studying support for use by dad and mom, lecturers, guardians in addition to monetary specialists to coach youngsters on monetary literacy. What higher approach to want our youngsters a Completely satisfied Youngsters’s Day than giving them the reward of economic literacy.
Obtain Vol. 1 of the FairMoney Monetary literacy for teenagers e book HERE.
This launch is the primary version in a sequence of Monetary Literacy supplies that will likely be commonly launched.
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