Financial Awareness Project
Support period: January 1, 2017 – December 31, 2017
“We had a great time here and learned new things. The scholarship was a tremendous help for my family, because they did not have to give me money, because I could spend my scholarship for my needs…”
Klaudia Földi, Tiszabura, December, 2017
Thirteen sessions were organized for the scholarship holders, mainly secondary school students during the support period in the Community House of the local Reformed Church in Tiszaroff based on the Pénziránytű Foundation’s Economical and Financial Culture. The sessions were led by a specialist teacher. The participant students were from four settlements, Tiszabő, Tiszabura, Tiszagyenda and Tiszaroff.
Among the many application criteria, the personal interviews, family visits and the students’ school results were important in choosing the most eligible ones for this Project. The support period was divided two six months long terms. Eleven students received scholarship (see at About the Project) who got monthly financial aid and a one-time food package in December 2017. The primary goal was to help the students to learn and to broaden their knowledge in finance and to help their families to lower the costs of the education.
The curriculum was about everyday life and gave useful guidance to solve financial situations. The students themselves said that the textbook had written for them, because they were struggling with similar questions when they face with their family situations. They understood the problem of the textbook’s family, but obviously we discussed the situations of their own settlements, family incomes and opportunities too. The topic of family’s resources was also really interesting. It turned out that the students are very eager and helpful at home.
Some of them might have thought earlier that the best way to help their families is to stay at home, for example it can be the reason why they did not want to leave their family even for a short period of time. However, they understood that it is also important to continue their studies, to find a job, to experience success and obviously to help the family, if it is possible.
The students had already had a wide range of knowledge about the discussed topics, but clarifying the various terms and ideas gave good opportunities to enliven the sessions. For example, the students answered the question, ‘What is the most vital for the man and woman today?’, by saying ‘The mobile phone’. At the end of the session, we concluded that financial knowledge is as vital as a mobile phone. Generally speaking, the sessions had a good atmosphere, everybody was happy to participate in the discussions. It is also worth to note that when the discussion turned to talent, the students first remained silent, but we discussed that everybody has talents and should be proud of something. The discussions helped to form the children’s open-mindedness and showed their interests and could help them to identify their talents.
The students clarified different terms and ideas, like gross and net income, commitment fee, wage, reward, premium, cafeteria, rent, enterprise, and all of these captured the students’ imagination.
They could list very well the families’ other incomes, because almost all of them has somebody among their relatives who receives social benefits, like maternity leave benefit, family support, job-seekers’ support, pension. The newly learned opportunities and the feeling of “I can be whoever I want to be” also motivated them very well.
The students also solved various tests from the National Career Orientation’s website under the guidance of the specialist. They became more open to talk about their families’ financial situation and possible solutions for their difficulties, moreover their own future plans as well.
For easier learning, presentations, short explanations, questions and answers, debates, team-works, group projects, games, home projects and personal evaluations were applied.
It can be concluded that before the Project the students’ knowledge in finance was insufficient. The Project aimed to improve their knowledge and based on children’s feedback, it was successful. This is why teaching financial culture and awareness is so important, because with the help of this knowledge the youngest generations can acquire those skills and views which are essential for making important financial decisions after careful consideration. By presenting the basic financial terms and relations, we could accomplish a value-creating work which can contribute to the success of these children.
Budapest, December, 2017