Financial Education course
Sociological studies show that people living under the poverty threshold are not capable of saving and planning their financial resources. Therefore, it is essential to work with them and teach them to effectively use the resources they have.
Financial Education course developed by Civic Association ETP Slovakia is focused on socially weak clients and consists of two modules.
The first module „Don’t Be Afraid of Money“ is for the beginners, children and youth. The client learn the basic information about financial management, they learn to prepare their household budget and not to spend more money than they currently have.
The second module is focused on intermediate graduates of the first course and is called. This 6-volume program for low-income people is taught in groups in community centres. The participants gain knowledge, skills and attitudes that are necessary for good financial management of their earnings, expenses, savings and investments. The clients learn to plan their finances as well as to save for a certain goal in the future.
Both courses deal with the danger of loans provided by non-banking entities. These institutions provide financial resources immediately; however their interest rates many times become a trap for socially weak clients and create a vicious circle of growing debts. The goal of this Financial Education course is to teach the clients to use their finances wisely as well as to help them escape from the trap of debts and give them a new beginning.
After the completion of both courses the successful graduates can participate in Savings and Micro-credit program of ETP Slovakia.