Financial Literacy for School Students in Rolpa (GMW)

Location: Rolpa, Lumbini Pradesh

Duration: 2 days

Targeted Groups: Students

Description

Global Money Week (GMW) is an annual global initiative led by the OECD International Network on Financial Education (OECD/INFE) to promote financial literacy among young people. Launched in 2012, GMW aims to equip youth with the knowledge, skills, and mindset needed to make informed financial decisions, fostering long-term financial well-being and resilience. Financial literacy plays a crucial role in transforming rural Nepal by equipping individuals and communities with the knowledge needed to make sound financial choices. In many rural areas, access to formal banking and financial services is limited, forcing people to rely on informal systems that are often risky and exploitative. Without the proper understanding of savings, loans, and investments, families can fall into debt traps, perpetuating cycles of poverty. By gaining financial literacy, individuals learn to manage their income, save for the future, and invest in ways that can uplift their economic standing.

Objectives

Enhance Financial Decision-Making
Ability to make informed financial decisions.
Improve Financial Security
Increase savings and investment for future security.
Better Financial Management
Effective budgeting and managing of income and expenses.

Programs

Day 1
Rolpa Bahuprabidhik Shikshalaya
Bal Kalyan Secondary School
Day 2
Jaljala Multiple Campus
College of Natural Resource Management

Impacts

Improved Financial Knowledge
Better Financial Decision-Making
Increased Financial Confidence
Awareness of Financial Rights
Knowledge of consumer rights and protection against fraud.

Program Summary

As part of its mission to enhance financial literacy among the younger generation, BIFCAP Nepal, in collaboration with various banking institutions' social initiatives, conducted financial literacy programs at four schools in Rolpa, Lumbini Province. The sessions were led by Mr. Suman Raj Subedi, a certified financial literacy trainer recognized by Nepal Rastra Bank Limited. Over four days, 310 students participated in these interactive sessions, which aimed to equip them with essential financial knowledge and skills. The program focused on fostering financial discipline, strengthening students' ability to make informed financial decisions, and instilling strong saving habits through practical techniques. Key topics covered included budgeting, saving, investment, credit management, and insurance. The program's impact has been significant, empowering students to work toward long-term financial stability.