Stories
Clientele MFS- Most of these trainings took place in Khayelitsha in a small area called Endlovini, I had 3 different groups to train. There were different ages young adult and elders. It was very interesting to hear different views from different generations. Helping to understand the different between a goal and a dream and allowing them to write them down a transformation on its own. Most of them they said they did not know how to separate needs from wants, they used to mix everything together. The 50% 30% 20% principle was very helpful in order for them to draft their budget. My highlight was even more when they were doing their role plays on planning for funeral, you could actually see the practicality of how things are done out there. They said they will keep the handouts and use them whenever they have to plan for the funeral. These sessions made a huge impact on transforming their mind set to manage their finances better.
Coronation Money Modular - I did 12 modules in different organizations that are around the community. At Ethafeni Day Care Centre, at Ikamva labantwana and lastly in Ithemba Labantu. These modules were an eye opener to the participants. They all did MFS before and by doing these modules it was an emphasis on change of mind set. All module made a huge difference in young people's lives. Budgeting, methods of savings and investing, scams and fraud and managing debt these modules prepared young people on what to expect in future. Most participants said these session will help them to make informed decisions and prioritize their needs other than their wants. It was amazing to see how much they realize that they are spending on their beliefs more. Boosting income module was a highlight because the realize that they do have skills and talents which they can turn into business. They also requested a business skills session because most of them are on work readiness program and they are being trained on plumbing, mechanics, baristas, chef and sewing.
On the 17th of April 2025, I trained a group of students at a private college in Umbilo, Durban. I trained them on young people and money module. they were very excited when planning their budgets as some of them are on a learnership programme and they are getting a stipend. Most of them promised to start looking at their spending and start budgeting. They all agreed that it's important to start saving at an early age. They also enjoyed the activities, which help to enhance the session and increase participation. The interesting part is that they attended with their facilitator who encouraged them to take the session seriously.
Firstly I had good coordination of training from group of Social development officer from Social development department for which I integrated my sessions within their respective program and target. I had opportunity to train community on financial literacy skills and gave them knowledge as they were also showing sharing experiences understanding when participating in groups. The training was appreciated for the insight knowledge it brings to Individuals about financial skills undustanding issues like budgeting process and their behaviour on money and saving and investing the good identify need and wants. Financial literacy help to understand unforseen circumstances and deai with risk including funeral, management debts so this is boost to their lifestyle Apparently most people are unemployed they are leaving by doing garden, cooperative, child care, after care centres as they are community within this social community officers are coordinating Issueng of certificate was highly recommended and wish training can be coordinated to other districts
Long-Term Benefits of Financial Literacy for Young Individuals Financial literacy is vital for young people, as it equips them with essential knowledge and skills to navigate their financial futures. The long-term benefits are far-reaching, providing a solid foundation for financial stability and independence. Here are some key advantages: 1. Informed Decision-Making Financial literacy empowers young individuals to make informed decisions about budgeting, saving, investing, and managing debt. With a deeper understanding of financial principles, they can differentiate between good and poor financial choices, which is critical in a world filled with various financial products and services. 2. Improved Financial Management Learning financial concepts allows young people to manage their money more effectively. They gain the ability to track their income and expenses, set financial goals, and create budgets. This practice reduces financial stress and leads to better overall financial health. 3. Avoiding Debt Traps A strong understanding of credit, loans, and interest rates helps young individuals avoid high-interest debt traps. By making smarter borrowing decisions and managing debts responsibly, they reduce the risk of falling into financial hardship. 4. Long-Term Savings and Investment Financial literacy stresses the importance of saving for emergencies and retirement. Young people who grasp the concepts of saving and investing early are more likely to build wealth over time, providing a secure financial future for their later years. 5. Enhanced Confidence and Independence Understanding personal finance boosts confidence. Young individuals feel more capable of handling unexpected expenses and planning for long-term goals, cultivating a sense of independence. This is especially important in an increasingly complex economic environment. 6. Preparation for Wealth Stewardship Financial literacy prepares young people to manage inherited wealth or assets effectively. Without this knowledge, inherited wealth can deplete over generations. Educated individuals, however, are better positioned to preserve and grow their financial legacies. 7. Economic Empowerment Financial literacy contributes to broader economic empowerment. By managing their finances wisely, young individuals can take advantage of opportunities, contribute to their communities, and help reduce economic inequality. In conclusion, the long-term benefits of financial literacy extend beyond just immediate financial management. It helps young people make informed decisions, manage their money efficiently, avoid unnecessary debt, and ensure a secure financial future. Through these skills, they can navigate the complexities of personal finance with confidence and achieve long-term financial success. Ndodesizwe Mayekiso
I had the privilege of working with different community members and municipal employees of which all the session's attendance was satisfactory and the level of engagement with the participants was fruitful. One outstanding story came from Mr Mokoni who shared his experience with how the NCA and NCR are not protecting the rights and privacy of the consumers instead allow credit providers to use consumers credit profiles to their benefit and provide them with credit without proper affordability checks. When repayments are not made their actions becomes unbearable by unfair blacklisting , judgement and even repossession with considering their financial conditions beforehand.
A Report after an impactful trainings that took place in different communities that are faced with poverty and unemployment yet many people are able to make a leaving and many survive with Grant's from government. many individuals loved the training and wish for many more Workshops. I had an opportunity to train Clientele project and Safrican both programs of the financial literacy education did an positive impact to the community members as many did not know snow ball aswell many didn't do their Budget because they thought you need salary not income. All sessions were interactive , attendance was as expected and we had to turn other participants back . What turned out to the community was getting certificates and free workshop it was a blessing said few community members. They asked us to spread the workshop to all the part of South Africa
