A financial education toolkit aimed at boosting people’s financial capabilities and social capital
Microfinanza has designed two experience-based learning programs on financial education and social entrepreneurship, one aimed at training trainers and one targeting financially vulnerable recipients such as migrants and refugees, youth and students, women and rural residents.
The learning toolkit, called QEF©, is composed of learning modules, exercises, games, practical tools for budgeting and savings management (including a family saving notebook), online learning modules (available in Italian at http://www.wikimicrofinanza.it/) and it is organized into five macro-categories:
- Tracking cash flows and budgeting
- Savings management
- Debt management
- Access to formal financial services
- Entrepreneurship and financial negotiations
Within these categories several topics are tackled, including tracking cash flows and budget goals, basic elements to know for borrowing, means of payment, job search, taxes, duties and tax returns, management of housing, utilities, children, transport and living expenditures, setting up and management of savings club and collective mutual schemes, borrowing, insurance, inheritance issues, retirement and termination benefits, investment tools. Entrepreneurship modules include design of business models and business plans, governance, financial management, double- entry book-keeping principles, marketing and negotiations. The training program for trainers also deals with principles of Islamic finance, behavioral economics and methodologies for assessing outcomes of financial education.