YCAB Foundation in partnership with First State Investments Indonesia and Citi Bank develop a program that will have lasting impact in economic independent by raising financial literacy levels of 500 underprivileged students in Jakarta. By teaching financial literacy basic concepts in particular to saving and also experiential learning tools such as Saving Accounts, this program brings about lasting change in saving habits for underprivileged students.
This program is one year collaboration program, from April 2015 – April 2016. The project is located in West Jakarta (Rumah Belajar Duri Kepa), East Jakarta (Rumah Belajar Cipinang and Rumah Belajar Manggarai) and North Jakarta (Rumah Belajar WTC Mangga Dua Dorkas).
Training for 500 underprivileged students are successfully completed by our Hands on Operation for Entrepreneurship/Employment team through a series of Financial Literacy Training and its impact will be monitored through counseling or consultation in collaboration with the teachers.
As a follow up of the training program, we develop two additional mechanisms to enhance the quality of the program:
- Students Saving Accounts. After class training, participated students will get “the Save-O-Meter Book” to help them practice savings knowledge in experiential learning methods. Through the book, students will learn to make a financial planning by defining their saving goals (either in short or long term goals) and how to achieve them by active saving.
- Counseling or Consultation. A regular counseling or consultation will be given to participated students who demonstrated willingness to save and expressed commitment for a regular saving. Through this component, YCAB track the outcomes and help students to solve challenges in applying financial knowledge.