Why Financial Education is Needed:
The Standard & Poor's Global Financial Literacy Survey found:
- Over 60% of the world is financially illiterate
- On average, women are among the lowest demographics with financial literacy
- The young is one of the most vulnerable groups and an important target for financial education programs.
The lack of financial education acts as a barrier to inclusion. When people lack knowledge of finance and financial products, they are less likely able to access banking and financial services and are put at a disadvantage.
According to UNICEF, early childhood development has a profound impact on a child's future. When given the right environment, children can develop the skills needed to embrace the opportunity and bounce back from adversity. FinMango agrees. We focus on providing a positive environment while teaching. Our symbol of the mango is a perfect example. We want students to learn or to take what they have and grow it into something beautiful and sustainable, just like growing a mango tree!
Overview of Programs:
Make it, save it, plant it, spend it (a little bit), and donate it. Our educational programs follow our money cycle model. Each “stage” offers a detailed approach to the different parts of the money cycle and how it can be applied to their daily lives. The model reflects the TRIANGLE to our service:
- Personal Finance Skills
- When it comes to financial literacy, it's important to start early and begin in the classroom. Like reading and math, financial literacy is a life skill students will encounter every day. Practicing with your child at home can help instill these lessons, through allowances, playing games like fake stores, or having conversations with your child at home.
- Basic Business Skills
- Our first step in the money cycle focuses on making money. Part of this is encouraging entrepreneurialism in our students and a basic understanding of the world around them. We introduce introductory lessons in marketing, communication, and sales. These will emphasize these five basic skills: Communication Skills, Planning Skills, Customer Satisfaction Skills, Planning Skills, Marketing/Selling Skills.
- Students are given the tools to build their own futures! Financial literacy makes it easier for students to make, save and grow their money. In the future, they will have the ability to keep themselves financially secure and not only lift themselves, but those around them financially to make a big economic difference!
Financial Enlightenment Program
Early development has a profound impact on an individual's future. We focus on providing a positive environment while teaching. Our symbol of the mango is a perfect example. We want students to learn to take what they have and grow it into something beautiful and sustainable, just like growing a mango tree!
The curriculum is regionally focused and adaptable for different age groups. We work hard to ensure it fits the need of our partners culturally, while maintaining its fun and simple approach to education.
Women's Empowerment Program
14 intermediate level topics ranging from controlling expenses to choosing financial products. The goal of the program is to empower. Students learn to set goals for what they want to save for and how much they want to save. They also learn how to keep track of how much they're putting away, and how to make and watch their money grow. With patience and willpower, students become surprised by how much money they can put away. And when they do, they'll feel good knowing that they’ll always have money for when you really need it.
Gillingham Investment Program
Our High School educational programs are lead by the local legend and Executive Board Mango Bob Gillingham. In the lessons, we try to depict to students the basics of financial literacy and how a little knowledge about the relationship between time and money is paramount in establishing long-term personal finance soundness. The classes are typically a break in the routine for high school students, and who doesn’t care about money? We leverage those engagement advantages to reach a wide range of students.